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Toyota Makes Lower Offer on Wages in Japan
Toyota Motor Corp. proposes to hike base monthly pay for its hourly workers in Japan by 4,000 yen ($33), one-third less than demanded by its union.
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Toyota Motor Corp. proposes to hike base monthly pay for its hourly workers in Japan by 4,000 yen ($33), one-third less than demanded by its union.
The union's 6,000-yen request is the largest since 1998. Toyota, which is more profitable than all other Japanese carmakers combined, says meeting the union's pay demand would boost labor costs by 20 billion yen ($165 million).
Bloomberg News reports Toyota is prepared to accept the union's proposal to give workers bonuses equal to 6.8 months of pay and grant an average 7,300-yen ($60) salary hike to senior workers and to those who are promoted. Those increases were the same in the current fiscal year ending March 31.
The outcome at Toyota is expected to set the increases at Japan's other carmakers. Their unions also have demanded 6,000-yen raises.
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