Japan's Tepco to shed more than 1,000 jobs: sources

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Japan's Tepco to shed more than 1,000 jobs: sources

Japan's embattled Tokyo Electric Power Co plans to shed more than 1,000 jobs via voluntary retirements by the second half of 2014, sources told Reuters, as it seeks to win more financial aid to clean up its crippled Fukushima nuclear plant. Tepco is working on a reorganization plan to fend off more drastic proposals, including possibly dragging the company through bankruptcy in return for a publicly funded clean-up and shutdown of its Fukushima reactors. The government has already agreed to spend 47 billion yen ($468.7 million) on dealing with some 1,000 tanks of radiated water at Tepco's crippled Fukushima nuclear power plant, which was wrecked by an earthquake and tsunami two years ago. Japan's government is also considering paying part of the cost to decommission Fukushima's damaged nuclear reactors, and restructuring could help Tepco secure more government aid.

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