Mizuho to Replace 5,000 Admin Jobs With AI

Mizuho Financial Group Inc. plans to replace the equivalent of 5,000 administrative and clerical jobs with artificial intelligence over the next 10 years. The initiative targets one-third of the company's 15,000 administrative staff nationwide, specifically automating tasks such as document verification and data entry to improve profitability and operational efficiency.

The company will invest up to 100 billion yen ($640 million) in AI development and implementation through fiscal 2028. To signal this shift, the firm will rename its Administrative Group to the Process Design Group in April.

Management stated that the plan is not a headcount reduction and will not involve layoffs. Instead, affected employees will be retrained and redeployed into high-value roles, including corporate sales and the sale of investment trust products and Nippon Individual Savings Accounts (NISAs).