Toyota Gives Union Workers First Raise Since 2008 - $26 A Month

Toyota Motor Corp. agreed to increase base wages in Japan for the first time since 2008 as the nation’s largest company heads for record profits.

The average Toyota Motor Workers’ Union member will earn 2,700 yen ($26) more in base pay per month, Senior Managing Officer Naoki Miyazaki told reporters today. That’s 0.8 percent of last year’s average salary and below the 4,000 yen the union was asking for.

While a weaker yen has helped Toyota forecast a record 1.9 trillion yen ($18.49 billion) profit for the year ending March 31, the raise comes as Japanese companies brace for next month’s sales-tax increase, the first in 17 years. Prime Minister Shinzo Abe has been pressing employers to increase pay for workers to help end more than 15 years of deflation.

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Sciros - 3/12/2014 11:32:42 AM

+1 Boost

A .8% increase over salary from 6 years ago? That is brutal. And the union was asking for like 1.18%? WUT? Salaries should be like 12% over what they were in 2008. And with Toyota's profits, this is just appalling. Unions or no unions, I don't care, but that is a shitty way to treat your people.

xjug1987a - 3/12/2014 1:47:58 PM

+2 Boost

The cost of making cars in Japan, and making money, is fast approaching the "no way" point. One of the only reasons their car companies make money is Yen manipulation. Japan has been in 5 recessions in the last 15 yrs so no one has had a raise and they're lucky they have jobs. Global competition is driving high cost mfg to low cost countries, so the companies can max profits. These profits are desperately needed to keep current with Govt regulations and the super insane competitive nature of the car business. Keeping costs low, is critical.... The currency manipulation keeps their industries from losing so much money they're not globally competitive. If they were not competitive... they'd go "bye bye"... and that means....well, NO jobs. This is the best they could get and were lucky to get it...

iamdabest1 - 3/12/2014 10:28:21 PM

+2 Boost

this way they dont turn into spoiled bums, they value their jobs, and for the most part, people like toyota over most brands when it comes to reliability.

Agent009 - 3/13/2014 11:10:56 AM

0 Boost

Toyota worker to Toyota:

Gee thanks I can now go to movie by myself and buy a soft drink once a month!

HughJass - 3/14/2014 8:48:43 PM

+1 Boost

Just as bad as American companies. Sorry, we can't give you a raise because we're too busy counting our money.

Toyota couldn't afford the extra $13 a month? They must be taking pointers from Walmart.