Toyota Motor Corp. workers are likely to secure bonuses equivalent to at least five months’ wages for this year, sources involved with this spring’s annual labor-management pay negotiations said Thursday.
The Toyota union is seeking annual bonuses worth five months’ wages plus ¥100,000 in this year’s “shunto” talks, while management continues refusing to accept the demand in full as the automaker is caught in serious difficulties amid a series of global recalls, they said.
Toyota management earlier indicated it would grant bonuses amounting to less than five months’ wages but has changed its stance as the firm’s unconsolidated operating loss turned out to be smaller than anticipated.
In addition, Toyota executives consider it necessary to respond to the union’s demand to some extent so employees and management can work together to overcome the current difficulties and regain consumer confidence, the sources said.
