Toyota, union workers spilt over wage hike
- 9 years ago
And shifting to Japan.
The country's most profitable auto manufacturer, Toyota, has reportedly turned down the biggest wage hike request by its labor union... in nearly 17 years.
According to Bloomberg, union sources say management offered a counter-proposal on Monday.
The pending deal outlines a monthly wage increase of about 33 U.S. dollars, falling short of the initial request by one-third.
The Japanese government has been pushing exporters to raise wages in return for its efforts in pushing down the yen.
Leading domestic carmakers, including Toyota, say the economic boost isn't enough to offset the higher labor costs.
The country's most profitable auto manufacturer, Toyota, has reportedly turned down the biggest wage hike request by its labor union... in nearly 17 years.
According to Bloomberg, union sources say management offered a counter-proposal on Monday.
The pending deal outlines a monthly wage increase of about 33 U.S. dollars, falling short of the initial request by one-third.
The Japanese government has been pushing exporters to raise wages in return for its efforts in pushing down the yen.
Leading domestic carmakers, including Toyota, say the economic boost isn't enough to offset the higher labor costs.