Japanese game company Capcom has announced that it has repealed the company's retirement benefit system for corporate directors and corporate auditors. This was decided at a Board of Directors meeting today.
On June 17, the abolition of the executive retirement benefits is scheduled to go into effect. The Capcom announcement did not clarify whether or not this was a cost-cutting measure, nor did it explain what prompted this decision.
These execs, however, should be entitled to receive Japanese national pension, which is not nearly as lucrative as white collar retirement bonuses.