Wednesday, March 13, 2013
Big Firms Accept Union Pay Demands In Labor Talks
TOKYO (Nikkei)--Automakers, electronics manufacturers and other big companies on Wednesday accepted their unions' demands for pay or bonus hikes across the board in their annual spring labor negotiations.
- An employee at the Japan Council of Metalworkers' Unions writes companies' answers to union requests.
Prime Minister Shinzo Abe has been calling on companies to boost their pay to help pull the country out of deflation.
The planned hikes, which in many cases exceeded the terms agreed upon the previous year, are thought to be based on the assumption that Abe's economic stimulus measures will push up corporate earnings.
Most of the union requests were for bigger bonuses rather than hikes in basic monthly wages or larger regular pay increases.
Toyota Motor Corp. (7203) announced Wednesday morning it accepted its union's request for a bonus payment equal to five months' pay plus 300,000 yen, amounting to an average annual bonus of about 2.05 million yen.
(The Nikkei, March 13 evening edition)