WHY ARE JAPANESE DEVELOPERS NOT UNDERGOING MASS LAYOFFS?

Summary from the TLDR newsletter

Japan seems immune to many of the layoffs and trends seen abroad. Employee protections play a major factor in ensuring this stability for employees. Layoffs are incredibly difficult to implement under Japanese employment law. Companies need to be under severe financial difficulty and at risk of insolvency and they have to have exhausted all other cost-saving measures. There are also cultural factors - reducing their workforce can reflect poorly on a company's reputation with the public and prospective future employees.