Tokyo Electric Power Co. executives spent dozens of meetings fretting about the utility's future as hundreds of younger employees quit over salary cuts after the Fukushima No. 1 reactor meltdowns, according to minutes obtained by Bloomberg News.
"The company could quickly deteriorate" as workers leave at "a rapidly accelerating rate," an unidentified executive said at an Oct. 4 meeting last year of the government-backed fund designed to bail out Tepco, which faces an estimated ¥11 trillion in cleanup costs from the nuclear crisis.
The comments are in redacted proceedings of 23 meetings of the fund's steering committee from Oct. 3, 2011, to this April 8, obtained through a freedom of information request.
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