Toyota Motor Corp.'s unions may abandon a request for an annual wage increase next fiscal year after the world’s biggest automaker forecast a second consecutive loss for fiscal 2009.
The final decision on whether to request higher pay will be made in mid-January, Akihiro Kaneko, Deputy Secretary General of the Federation of All Toyota Workers' Unions said by phone today. Japanese automaker unions typically agree on a base salary increase in January and in February make the request to companies, which decide whether to accept or reject the offer in March.
Toyota, Honda Motor Co. and Nissan Motor Co. have rejected union requests for higher pay for the current fiscal year, citing the deteriorating financial situation. Toyota forecast last month it will lose 200 billion yen ($2.2 billion) for the year ending in March.
