DigitalCFO Newsroom | 8 August 2022
In response to rapid cost-of-living increases around the world, Tokyo-based IT company Cybozu is paying employees a one-time special inflation relief allowance.
Cybozu Inc., a Japanese provider of groupware solutions for businesses, is providing its employees with a special one-time inflation relief allowance to offset the effects of global inflationary trends. The allowance will be dispensed to Cybozu employees, regardless of contract type, across its global locations, including Japan, Thailand, Malaysia, the United States, Mainland China, Taiwan, and Australia.
“Since the beginning of 2022, the world has been experiencing increasing prices of many basic commodities, from groceries to gas to utilities,” said Cybozu CEO Yoshihisa Aono. “Our annual salary review normally occurs in January, but we realized inflation concerns had to be dealt with urgently. We chose to provide this special allowance so that Cybozu employees around the world can go about their daily lives feeling less anxiety about the rising cost of living.”
At Kintone Southeast Asia, full-time employees in Malaysia and Thailand will receive payments ranging from USD$200 to USD$300. This payment takes into consideration several local factors, including the cost of living, the financial impact of inflation, taxes, and social security contributions, among others — and is optimized for each country.
President of Kintone Southeast Asia Sdn. Bhd., Tsubasa Nakazawa, noted that Cybozu’s inflationary remedy aligns with Kintone’s commitment in nurturing the potential of its team members. “I have received really positive feedback from our employees. During this difficult economic time, they are grateful for the company’s swift and efficient response to the financial pressures we’ve all been facing.”