Japanese Jobseekers Turn Their Backs on Toyota

      April 10, 2009 11:05

      Japan's leading employer Toyota is no longer loved by Japanese jobseekers, sliding by a staggering 90 notches from sixth place last year to 96th on the list of companies university students want to work at.

      Japanese job search firm Recruit conducted a survey among college seniors graduating next spring. Experts say the reason for the plummeting popularity is that students feel uncertain of the carmaker's future. Hit hard by the global slump, Toyota recorded an estimated operating loss of 450 billion yen (approximately W6 trillion) when books closed in March, the worst performance ever.

      Railway companies and airlines took the top spots. Central Japan Railway Company topped the list, followed by East Japan Railway Company, and All Nippon Airways. Banks also did well, with Mizuho Financial Group ranked fourth, followed by Mitsubishi Trust Bank, and Mitsubishi UFJ.

      Electronics companies, hit hard by the economic downturn, tumbled. Sony dropped from eighth to 29th, Sharp from 14th to 55th, and Canon from 22nd to 77th.

      Recruit said the trend reflects the worsening performance of manufacturers heavily affected by spending cuts amid the global crisis.

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