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In Japan, the practice of Lifetime employment (終身雇用, shuushin koyou?) has been the rule in big Japanese companies beginning with the first economic successes in the 1920s. It gives Japanese workers the important feeling of job security as part of Japanese management culture, and in turn, elicits a high degree of company loyalty. A high demand for the few available engineers forced companies to bind these employees to the company. The collapse of the Japanese asset price bubble and the following crisis in the 1990s did not weaken the practice. It is also used in small Japanese companies. However, due to the long recession and 2008-2009 financial crisis many companies have discontinued the practice of shuushin koyou and have embarked in mass layoffs.
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