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Toyota labor union drafts record bonus demand

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29 Jan 2024 10:01:50 GMT9
29 Jan 2024 10:01:50 GMT9

TOYOTA (Aichi Pref.): Toyota Motor Corp.’s labor union on Monday presented to its members its draft demands for this year’s “shunto” spring wage negotiations, including one that calls for record annual bonuses of 7.6 months’ salary, up from 6.7 months’ salary last year.

The ambitious bonus demand comes as the leading Japanese automaker has projected a record consolidated operating profit of 4.5 trillion yen for the year ending in March.

Toyota Motor Workers’ Union will formally adopt the bonus demand on Feb. 9 and then submit it to Toyota management on Feb. 14.

The Toyota union will also demand a pay-scale increase of 7,940-28,440 yen a month per employee, compared with last year’s demand of 3,570-9,370 yen, which was one of the highest demands by the union in the past 20 years.

“We will hold negotiations with the company side to win what we demand,” Keisuke Kito, head of the labor union’s executive committee, told a press conference in the city of Toyota, Aichi Prefecture, central Japan.

The Toyota union will not disclose the details of its pay-scale increase demand so as not to make it difficult for other unions to make higher demands.

In the 2023 shunto, Toyota fully met both the union’s pay-scale hike and bonus demands.

JIJI Press

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