Toyota cuts managers' bonuses by 60%

[Coventina]

Source: AFP

TOKYO (AFP) — Japan's Toyota Motor will slash summer bonuses for its 8,900 managers by an average 60 percent from a year earlier due to a slump in the global auto industry, a company spokeswoman said Wednesday.

Toyota has separately agreed with its labour union to cut annual summer bonuses for its 63,000 members by 10 to 20 percent to an average 1.86 million yen (18,900 dollars) for this fiscal year, which started on April 1.

Toyota's executive board members will receive no bonuses for the current fiscal year, the spokeswoman added.

"The measure is based on the understanding that we should all share the pain," the spokeswoman said.



Read more: http://www.google.com/hostednews/afp/article/ALeqM5gYgHiybxb7lggGje81_KPoBtUhMQ

[raccoon]

1. Wouldn't it be nice if the Big 3 did the same? But I'm not holding my breath. nt

[Demobrat]

2. You can bet the Toyota employees

come to work with a completely different attitude than the Big 3 workers do.

[WriteDown]

3. Yep...

the cheery attitude of non-union workers. :eyes:

[Winterblues]

6. Places do not have to be Unionized if the employees are happy.

Most Companies in america are not Union and yet employees are not mistreated nor unhappy. Union is not be all end all. When necessary it is essential but when not :shrug:

[DainBramaged]

7. Do you have the facts to back up your assumption?

DU, where speculation and misinformation is the norm.

[Romulox]

9. Er, wages have been stagnant in the US for 30 years.

Just emerging from a coma? :hi:

[Romulox]

8. Yep. Toyota workers KNOW their place!

Court rules Toyota employee worked to death

http://www.reuters.com/article/lifestyleMolt/idUST36839620071130

[RUMMYisFROSTED]

4. IIrc, their pay ratio was smaller than US mgrs. to begin with.

[Vidar]

5. Bravo Toyoto.