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
SAN FRANCISCO, July 26, 2022 /PRNewswire-PRWeb/ -- 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, the United States, China, Taiwan, Thailand, Australia, and Malaysia.
"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 San Francisco-based Kintone (the US subsidiary of Cybozu), a payment of $2,100 will be scheduled for each full-time US employee by the end of July. 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.
Kintone's US Head of HR, Vincent Dang, commented that Cybozu's inflationary remedy is consistent with the company's broader commitment to providing a workplace environment that nurtures each team member's innate potential. "The feedback I am receiving from Kintone's US employees is really positive. In this difficult economic situation, they're appreciative of the company's ability to quickly identify and respond to the financial pressures we've all been dealing with."
About Kintone Corporation
Kintone is a customizable digital workplace platform that lets you manage your data, tasks, and communication in one central place. Over 21,000 customers use Kintone's no-code platform with more than 1.5 million database and workflow applications custom built for their businesses. Kintone is provided by Cybozu Inc., a Tokyo-based public company founded in 1997. For more information, please visit kintone.com.
About Cybozu
Cybozu Inc. is a Tokyo-based public company and Japan's leading groupware provider. Founded in 1997, Cybozu provides software solutions to over 110,000 companies worldwide. Its flagship product, Kintone, is a customizable digital workplace platform that lets you manage your data, tasks, and communication in one central place. For more information, visit cybozu.co.jp. To learn more about Kintone, visit kintone.com.
Media Contact
Tim Cox, Kintone, 651-888-6116, [email protected]
SOURCE Cybozu
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