Mexican Media Brands
UPDATE: Toyota Raises Worker Compensation 3% in Japan
Toyota Motor Corp. has agreed to raise the monthly wages and other benefits for its hourly workers in Japan by 11,700 yen ($110), or 3.3%.
#labor
Share
Toyota Motor Corp. has agreed to raise the monthly wages and other benefits for its hourly workers in Japan by 11,700 yen ($110), or 3.3%.
The hike, which is Toyota’s fifth consecutive increase, will take effect when the next fiscal year begins on April 1.
Base monthly wages will rise by more than 1,300 yen, slightly above last year’s increase, according to Reuters. Toyota boosted base wages by 4,000 yen in 2015 and 1,500 yen in 2016.
Toyota’s actions are considered a bellwether for annual wage adjustments among major Japanese employers. Prime Minister Shinzo Abe has been urging major companies to raise wages by more than 3% to help stimulate Japan’s economic growth.
RELATED CONTENT
-
UPDATE: UAW, GM Reach Tentative Labor Deal
General Motors Co. and the United Auto Workers union have reached a possible deal on a new four-year labor contract covering some 48,000 of the union’s hourly workers in the U.S.
-
Young Auto Engineers Say Their Employers Don’t Measure Up
Only one-third of U.S. automotive engineers below the age of 36 agree that their work experience matches the way their employers’ portray themselves publicly, according to new research.
-
CEO Barra Steps into GM-UAW Talks
General Motors Co. CEO Mary Barra met secretly with United Auto Workers union leaders yesterday afternoon, according to the New York Post, which first reported the event.