Japan is experiencing a drastic increase in bankruptcies due to a surge in employee resignations, a trend that marks an unprecedented pace. Many Japanese businesses, particularly small and medium enterprises, are finding it challenging to sustain procedures as employees increasingly choose to leave their jobs, leading to unsustainable levels of attrition and subsequent financial collapse. This development signifies coming changes in the state of Japan's labor market and overall economic health.

In Japan, lifetime employment has traditionally been the norm, however the trend in the past few years has been for employees to change jobs more frequently. Workers are starting to prioritize personal growth and job satisfaction over job security. This shift challenges the foundational belief that an employee stays with a company for life, and it's proving disruptive to many businesses that are not prepared for the change.

Unlike Japan, in countries like the US and EU, job-hopping has been accepted as part of a normal career path for quite some time. The US and EU businesses are more flexible and prepared for attrition, succession planning and employee turnover. This contrasts Japan's corporate culture where such high rate of attrition could lead to substantial operational disruptions.