Toyota accepts union demands for biggest wage hike in two decades

[Wicked Blue]

Source: CNN

Toyota Motor, the world’s biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay.

As one of Japan’s biggest employers, Toyota (TM) has long served as a bellwether of the spring labor talks, which are in full swing at major companies. Many are expected to conclude swiftly as the government seeks inflation-beating wage hikes to ease burdens on consumers.

The automaker’s incoming president Koji Sato said the decision to accept the union’s demands in full at the first round of talks was meant not just for Toyota but “also for the industry as a whole, and in the hope that it will lead to frank discussions between labor and management at each company.”

Within hours of Toyota’s announcement, rival Honda (HMC) Motor said it had agreed to union demands for a 5% pay increase. The average monthly base salary rise of 12,500 yen ($92.70) at Honda (HMC) is the biggest jump since at least 1990.

Read more: https://www.cnn.com/2023/02/23/cars/toyota-wage-hike-hnk-intl/index.html

[Uncle Joe]

1. Kicked and recommended.

Thanks for the thread Wicked Blue

[Moosepoop]

2. Glad for the Japanese workers!

I wonder if this will have any effect on the pay rates at their plants here in the U.S.? I hope so!

[SleeplessinSoCal]

3. Outstanding!

We drive our beloved Prius and our next car will likely be a Toyota. What is their all electric vehicle?

[appalachiablue]

4. Terrific news, thanks.

[The Bopper]

5. Unfortunately

99% of foreign owned companies vehicles are made in the US, are made in the so-called Right to Work for less states where Americans have convinced themselves $17.00 an hour makes them almost rich because most of those states are $7.50 an hour minimum wage states. ALL THE PROFIT goes out of our country making us weaker.