Toyota and its labour union have agreed to make no changes to an average winter bonus set earlier at 930,000 yen.
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When the company and the union set an average annual bonus in the spring at 1.86 million yen for fiscal 2009 that started in April, they decided to renegotiate the winter portion of the bonus later in an agreement, the first time in 11 years due to uncertainties about the firm’s business performances.
The Toyota union has so far based its bonus demand on a projected operating profit. Since the carmaker expects to incur an operating loss for fiscal 2009, the union is reviewing its way of calculating bonus demand for the next spring negotiations with the management.
