TOKYO, Nov 10 (News On Japan) - Bankruptcies in Japan have more than doubled year-on-year due to labor shortages, with the word "bachiku", or "corporate livestock", spreading among young part-time workers who are forced to take on extra shifts.
The number of bankruptcies due to labor shortages in Japan was 128 from January to October this year, 2.4 times more than last year, according to data released on Nov 9 by Tokyo Shoko Research.
The term "bachiku", a combination of "part-time job" (バイト) and "corporate slave" (社畜), reflects the current business environment where companies and consumers demand cheap, high-quality services, leading to a reliance on part-time staff in the midst of a tight labor market.
Students feel they are "bachiku" when they work 5-6 days a week, sometimes 7 days, juggling multiple jobs, prioritizing work over social life.
Students' academic performance is also affected, as they spend most weekends working long hours, leaving little time for assignments.