business

Toyota asks Japan workers to take pay cuts

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So use some of the billions of USD in the bank, Mr Toyota. Your employees are your life blood.

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None of the big twelve Japanese manufacturers who are busy laying off staff have answered where all those trillions of yen of profits over the last 8 years have gone to... a couple of bad months and they plead poverty. Where is the vaunted long-term Japanese planning and management strategy?

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In a stunning reversal of its previously booming fortunes

So.....Where are all these booming fortunes now? I guess it's easier to take from the poor than to actually expect the rich to support their own employees. Or, possibly they are waiting for a multibillion yen bailout from the Jp Gov. I hope the Jp Gov has some money left after they pay everybody the 12,000yen.

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Toyota mantra: Take the long term view. Workers will follow as they´ll still have jobs and improved skills when the smoke clears, literally, and they make more efficient green cars. While they also eat the big3´s lunch.

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LIBERTAS: don't count the big three out just yet (well maybe Chrysler) In the latest Hybrid sedan review I read Ford's Fusion Hybrid beat the Toyota Camry hybrid in driving dynamics, fuel efficiency and quality of materials. That is a true upset and a welcome one. Toyota has been living off its reputation for far too long and customers are beginning to actually cross shop brands. All of that aside all carmakers will continue to suffer from the perfect storm that was not of their making. I don't see that Toyota has any choice but to seek concessions and layoff workers.

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How much are "bosses" cutting their own salaries, bonuses and the rest of the gravy train I wonder??

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wanderlust: I totally agree. People have been touting the Japanese business model for so long, few bad months should not do so much damage. Unless like other things we hear about , Maybe they have been inflating their books too, or as some of you really refuse to believe. Maybe the exchange rate Really does play a big part. I know Toyota makes one third of their profits from it and that calculated at a 115 rate.Take away that and the company doesn't look that good.

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Isn't it strange how when Toyota made record profits they refused to increase wages, yet after only a few months of poor results they are clamouring to slash salaries?

I'm sure the unions will roll-over and take it, as usual.

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“Protecting employment is of utmost importance for us,”

As long as they are permanent: ie, Japanese, and robot respond to all orders.

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Told you so folks. Told you for three years that Toyota were in a major numbers scam. They'd never give the reigns back to the family unless major wrongdoing had been uncovered.

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