Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Toyota rewards Japanese workers


Much is made of how Toyota benefits from its non-union employees in the United States, but it’s a bit different back home. In Japan, Toyota Motor Workers’ Union has 58,000 members. What’s more, with the financial year ending later this month in Japan, pay negotiation is in full flow.

Still, union membership doesn’t mean Japanese Toyota workers can expect huge rises. According to reports in the Japanese media, Toyota rebuffed union demands for a rise of $12.77 in the monthly base wage. Instead, a wage rise of $8.51 was agreed earlier this week—the same rise as last year. That may seem harsh given that Toyota’s Japanese workforce still makes over half of all its cars and, last year, raised exports by over 20%.

Still, it’s not all bad for the folks on the production line. For one thing, Honda’s only raising its month pay rate by $7.70 a month. More important, Toyota has agreed to another union demand for a bigger bonus. This year, that’s expected to reach a record $21,964—an increase of $1,787. With Toyota’s profits set to keep on growing, next year could even better.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus