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NTT to stop new hiring at 2 main group companies.

TOKYO, Nov. 15 Kyodo

Nippon Telegraph and Telephone Corp. (NTT) will freeze new hiring at its two main group companies for at least two years from 2001 as part of its plan to slash its group workforce by 21,000 by March 2003, NTT sources said Monday.

The freeze on new hiring by Nippon Telegraph and Telephone East Corp. (NTT East) and Nippon Telegraph and Telephone West Corp. (NTT West) will be the first of its kind for NTT since it was privatized in 1985, the sources said.

Under a three-year restructuring plan starting in fiscal 2000 as earlier unveiled, NTT aims to cut some 10,000 jobs at NTT East and some 11,000 jobs at NTT West, mainly through attrition and the transfer of employees to other group companies.

The personnel reduction will bring NTT's group workforce to just over 200,000.

NTT expects the job retrenchment to save some 100 billion yen a year in combined labor costs at NTT East and NTT West.

NTT East and NTT West are two of the three companies created last July as a result of a sweeping reorganization to make NTT a holding company.
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Comment:NTT to stop new hiring at 2 main group companies.
Publication:NTT Topics
Geographic Code:9JAPA
Date:Nov 22, 1999
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