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Toyota Ponders 3% Pay Hike for Workers in Japan
Toyota Motor Corp. is contemplating a 2,000-yen ($17.60) boost in the monthly pay scale for its workers in Japan.
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Toyota Motor Corp. is contemplating a 2,000-yen ($17.60) boost in the monthly pay scale for its workers in Japan.
The increase, coupled with a regular seniority-based monthly increase of 7,300 yen ($64.40), would raise wages for union workers about 3%, sources tell The Nikkei.
Toyota’s deal will be considered a benchmark for other Japanese carmakers. Prime Minister Shinzo Abe has been urging Japan’s largest employers to increase wages, which could help stop deflation and revive the country’s economy.
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