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.
$330 Million for every one Yen drop to the Dollar. What a job of Manipulation the Japanese Government is doing a 20 YEN drop in less than 4 months. But will it ease the Japanese pain in China or increase it?
I don't think when Warren Buffett or David Einhorn bought GM they would worry worry about the Government also being a stock holder of GM.
GM workers gave up Cost of Living and wage increases for Profit sharing, I've seen nothing of what Japanese workers gave up. What they got was because of YEN Manipulation not because of hard work. I wonder how many non Japanese workers work in Japanese facturies? Do you think they have X numbers of American Indians, blacks, women on the factury floor?