25% of Japan's firms either axed jobs or plan to: survey

One out of every four companies in Japan has cut jobs or plans to do so due to the economic downturn, according to a survey released Thursday by Teikoku Databank credit research agency.

Of the 10,731 firms that responded to the survey, 2,890, or 26.9 percent, said they have already cut their workforce or are considering job reductions in the foreseeable future.

The agency said 35.7 percent of the 3,092 manufacturers in the survey have implemented or intend to conduct employment adjustments.

The trend is outstanding among automakers and other transportation machinery makers, with 60.2 percent of the respondents in these sectors favoring employment adjustments.

The survey was conducted between Dec. 17 and Jan. 5.