Subscribe free to our newsletters via your
. Military Space News .




CAR TECH
Japan auto giants to give workers a bonus boost
by Staff Writers
Tokyo (AFP) March 13, 2013


Japan's top automakers are set to give tens of thousands of employees an annual bonus bump as a weaker yen helped their bottom line while Tokyo presses firms to hike staff pay to lift the economy.

Toyota, Japan's biggest car firm, said Wednesday it would accept union demands for a richer bonus with the Camry-maker agreeing to inflate the annual payment by about 10 percent to an average 2.05 million yen ($21,000).

The bonus, which is in addition to workers' regular salaries, would be made to both factory employees and while-collar staff, said Toyota, which is also the world's largest vehicle producer.

It would reportedly be Toyota's biggest bonus in five years.

Japan's number-two automaker Nissan will bump its bonus by about 2.3 percent to 2.04 million yen, reports said, while number-three producer Honda also said it would offer a bonus boost, without disclosing details.

In January, the country's top three automakers posted record sales for 2012 as the trio put Japan's damaging quake-tsunami disaster in their rear-view mirror, while a weakening yen helped their bottom line.

The unit, which hit a record high around 75 on the dollar in late 2011, hurt Japan's auto industry by making their vehicles less competitive overseas and shrinking foreign-earned income converted back to yen.

The unit's decline in recent months -- it traded above 95 on the dollar Wednesday -- has come on the back of a new government in Japan vowing to fix the world's third-largest economy with a mix of big spending and aggressive monetary easing.

Prime Minister Shinzo Abe has also asked Japanese firms to lift their employee pay as a way to boost disposable income and reverse years of deflation, which has crimped private spending and business investment.

Other major firms, including Hitachi and Fuji Heavy Industries, have decided to offer employees a pay rise, Japanese media reported.

Seven & i Holdings, which operates 7-Eleven convenience stores across Japan, has said it would hike salaries for some 53,000 employees while rival operators Lawson and FamilyMart announced bonus increases for staff.

.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CAR TECH
Electric cars back into the shadows at Geneva car show
Geneva (AFP) March 10, 2013
After being the starring act for several years, the electric car backed into the shadows at this year's International Geneva Motor Show as carmakers grow weary of waiting for sales to take off. Electric vehicles were not completely absent from the showrooms as the 83rd edition of the Geneva show kicked off, but no new models were unveiled and car company executives on site for the media days ... read more


CAR TECH
Lockheed Martin Wins Aegis Combat System Engineering Agent Contract

US radar to boost missile defence in Japan

Israel tests Arrow but funding cuts loom

Israel tests new Arrow missile interceptor

CAR TECH
India aborts testing of new cruise missile: defence body

Raytheon delivers first Standard Missile-6 from new Alabama missile integration facility

Lockheed Martin Receives Long Range Anti-Ship Missile Contract From DARPA

Syria missile strikes in Aleppo leave 58 dead: NGO

CAR TECH
UAV Industry Will Create 70,000 Jobs Over Next 3 Years

Northrop Grumman to Produce More Fire Scouts for U.S. Navy

US drone strike in Pakistan kills militant: officials

Pentagon has second thoughts on drone warrior medal

CAR TECH
Boeing Ships 5th WGS Satellite to Cape Canaveral for 2013 Launch

INTEROP-7000 uses ISSI to link IP-based voice comms with legacy radio

Space race under way to create quantum satellite

Boeing Receives USAF Contract for Integrated C4ISR Targeting Solution

CAR TECH
Raytheon's new precision artillery ready for low-rate initial production

New clip-on Thermal Weapon Sight offers more accurate targeting

Caribbean security firms see niche market

Bolstering the Front Line of Biological Warfare Response

CAR TECH
India PM warns of 'consequences' over Italian marines

Merkel under fire over Mideast arms sales

Algeria's military goes on an arms spree

Australia's bloated defense contracts

CAR TECH
Outside View: Hidden in plain sight

Japan seeks defence ties with ASEAN amid China rows

Outside View: The man who would be king

Obama to raise maritime tussles at Asia summits

CAR TECH
New technique could improve optical devices

Silver nanoparticles may adversely affect environment

Scientists delve deeper into carbon nanotubes

New taxonomy of platinum nanoclusters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement