business

Toyota calls union pay demands impossible

6 Comments
By Maki Shiraki and Chang-Ran Kim

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6 Comments
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Since profit, or surplus value, is mainly derived from underpaying workers (as well as through corporate welfare and externalizing other costs), we should not expect Toyoto to turn around and raise salaries to any extent that might harm further earnings and profit margins. Especially since they are a transnational corporation, they have a global pool of worker that they use to compete down the cost of labour. The field of economics theorizes this process, but might not we be better off studying parasitology to truly understand what's going on?

1 ( +3 / -2 )

Toyota expects a profit of Y2.7 trillion, yet they claim they cannot afford a Y20 billion pay rise, which is 0.74% of their profit.

6 ( +6 / -0 )

Suddenly not so happy with my Prius.

2 ( +2 / -0 )

Toyota is looking at a rise equal the inflation rate, Abe/Unions looking for double that. Im guessing Toyota will win in these negotiations. Toyota as a leader wouldnt want to make the increase too large as its competition may not do a similar sized increase. Too large of a wage rise in Japan will just make Toyota & co, hire less workers in Japan and move more production overseas. either way Toyota will win and the J public will end up paying for it

0 ( +1 / -1 )

If cars made in Japan have higher quality due to stringent quality control, then these workers should be rewarded for doing their job well. Corporations should stoke pride in workers by compensating them appropriately. Take for example the Lexus. It's known to be one of the best quality car around. Where & who manufactures them? Enough said.

0 ( +0 / -0 )

Scrote - Toyota expects a profit of Y2.7 trillion, yet they claim they cannot afford a Y20 billion pay rise, which is 0.74% of their profit

And there you have it. The days of loyalty to the employees from the "new" zaibatsu are long gone.

0 ( +0 / -0 )

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