H18･12･26 at Tokyo Appeal Court

【Judgement】 lawful dismissal

【Company】 Credit Suisse

【Category 】 RIF

【Reference】Rodo Hanrei 931-30

【Position/Salary】 VP in Fixed Income / JPY 16M

【Summary】

According to the company's financial condition, it is recognized that the company was in a situation where termination of employees due to business reasons was unavoidable for reasonable business operations, and such necessity can be deemed to have existed.

Given that the company has continued to implement substantial personnel reductions in addition to the termination of the lease following the aforementioned dismissal, and considering the current circumstances where new hiring is also being curtailed, it is evident that other departments are not in a position to absorb the employee. Taking into account that the employee had created serious interpersonal issues, it cannot be asserted that the company failed to make reasonable efforts to avoid dismissal merely because it did not attempt to transfer the laborer.

The selection of the Interbank Desk for staff reduction due to poor performance, and the selection of the employee for termination based on salary and performance within that department, are not unreasonable in themselves.

The company engaged in three rounds of collective negotiations between the retirement encouragement and the termination in question, during which it explained the retirement encouragement; however, since no agreement was reached, it can be said that the company made reasonable efforts to obtain the workers' understanding.