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Toyota Boosts U.S. Plant Wages by up to 9% in Response to Labor Pressure

Toyota plans substantial wage hikes, up to 9%, at its U.S. facilities, following industry-wide labor demands and strikes, narrowing the pay gap with rivals like General Motors
t 7203.TSE Blue Chip 150
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Toyota Motor is set to increase wages for employees at its U.S. plants, with raises of up to 9%, in response to labor union pressure and strikes. Some hourly wages at Toyota’s U.S. plants will rise by 9%, and the highest-paid workers could earn over $34 per hour. These increases are slated to begin in January and will accelerate the path to the highest hourly pay scale from eight to four years. This move is seen as an effort to maintain competitiveness within the industry. The United Auto Workers union recently staged prolonged strikes against major U.S. automakers, including GM, Ford, and Stellantis, ultimately resulting in a deal that included a substantial 25% wage increase.

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