Toyota works to restrain labour costs

Toyota works to restrain labour costs

There are 9 comments on the The Age story from Feb 8, 2007, titled Toyota works to restrain labour costs. In it, The Age reports that:

Toyota Motor Corp. is working to restrain labour costs at its North American manufacturing operations, which are expected to rise by $US900 million in the coming years, according to a confidential company ...

Join the discussion below, or Read more at The Age.

Carman

Yukon, OK

#1 Feb 8, 2007
Blame the labor force for record growth and profit? Moving forward?
Lonely old goat

Mount Sterling, KY

#3 Jan 30, 2013
If it were a UAW shop they would all be fulltime and paid $30 an hour with benefits
Ol man

Georgetown, KY

#4 Feb 2, 2013
That's what ford pays in Louisville...
Chrysler

Paris, KY

#5 Feb 2, 2013
They are paid close to $27/hour plus benefits plus about $5-$6K in bonuses a year. Sounds awful, huh?
Lol

Georgetown, KY

#6 Feb 2, 2013
Chrysler wrote:
They are paid close to $27/hour plus benefits plus about $5-$6K in bonuses a year. Sounds awful, huh?
they produce more cars with less people and better quality than the company that makes $30/hr and 8400 bonuses with a PENSION PLAN that pays them $3200 for life. Yea, it's pretty sad
Chrysler

Paris, KY

#7 Feb 3, 2013
Lol wrote:
<quoted text>
they produce more cars with less people and better quality than the company that makes $30/hr and 8400 bonuses with a PENSION PLAN that pays them $3200 for life. Yea, it's pretty sad
You better check that pension plan again. Only those hired before 2008 get that. The others never will get it. You know why? It was unsustainable. The new ones just get a little money put in a 401(k) and NO pension. Plus, they don't have retiree medical anymore. Toyota still has that. If you're going to tell the story, tell the whole story. The world has changed since the days that companies offered defined benefit pensions and they ain't coming back!
Lol

Georgetown, KY

#8 Feb 3, 2013
Chrysler wrote:
<quoted text>
You better check that pension plan again. Only those hired before 2008 get that. The others never will get it. You know why? It was unsustainable. The new ones just get a little money put in a 401(k) and NO pension. Plus, they don't have retiree medical anymore. Toyota still has that. If you're going to tell the story, tell the whole story. The world has changed since the days that companies offered defined benefit pensions and they ain't coming back!
You mean only those 400,000 retires at ford or the ones at gm that could accept $4,300/mnth or give up their pension for a lump sum payout of around $900,000?. I'm not sure if you realize it it or not but 95% of all the employees were hired in before 2008. the big 3 have no medical retirement benefits??? Where did you hear that? THE INTERNET? Lmao
Does Toyota offer profit sharing like the big 3? Do toyota employees hired before 2008 have a pension plan that they can live on? Seems u are the one with the issue of telling the whole story. And what parts u do tell are made up it seems
Chrysler

Paris, KY

#9 Feb 3, 2013
Lol wrote:
<quoted text>
You mean only those 400,000 retires at ford or the ones at gm that could accept $4,300/mnth or give up their pension for a lump sum payout of around $900,000?. I'm not sure if you realize it it or not but 95% of all the employees were hired in before 2008. the big 3 have no medical retirement benefits??? Where did you hear that? THE INTERNET? Lmao
Does Toyota offer profit sharing like the big 3? Do toyota employees hired before 2008 have a pension plan that they can live on? Seems u are the one with the issue of telling the whole story. And what parts u do tell are made up it seems
You are obviously so dimwitted, you don't even understand basic business facts. The union had to give up the defined benefit pension because it was no longer sustainable! The dollars aren't even there to pay out what has been promised to those 400K retirees you're talking about. The system doesn't work when you promise too much, that's why they gave it up. And it terms of the retiree medical benefits, go check the last contract and send me the details of it when you find it. It's not there! The companies turned over all of the retiree medical liabilities to the UAW through the VEBA. It's funded through stock the companies gave them. The UAW is burning through it's cash reserves like crazy. I sure as heck wouldn't want to depend on them and their VEBA for my retiree medical. And, even if they do come through with it (highly unlikely), it's only for the 400K you're talking about. All the newbies will always and forever only have a an additional percentage the companies are putting into their 401(k)s to go buy their own retiree medical insurance one day. Hope you're still "LMAO" when you check that contract.
Lol

Georgetown, KY

#10 Feb 3, 2013
Chrysler wrote:
<quoted text>
You are obviously so dimwitted, you don't even understand basic business facts. The union had to give up the defined benefit pension because it was no longer sustainable! The dollars aren't even there to pay out what has been promised to those 400K retirees you're talking about. The system doesn't work when you promise too much, that's why they gave it up. And it terms of the retiree medical benefits, go check the last contract and send me the details of it when you find it. It's not there! The companies turned over all of the retiree medical liabilities to the UAW through the VEBA. It's funded through stock the companies gave them. The UAW is burning through it's cash reserves like crazy. I sure as heck wouldn't want to depend on them and their VEBA for my retiree medical. And, even if they do come through with it (highly unlikely), it's only for the 400K you're talking about. All the newbies will always and forever only have a an additional percentage the companies are putting into their 401(k)s to go buy their own retiree medical insurance one day. Hope you're still "LMAO" when you check that contract.
So when you said "They have no medical in retirement", you were just trying to mislead people? Thanks for clearing that up, jerkoff! Is profit sharing also not sustainable?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Georgetown Discussions

Title Updated Last By Comments
whats up with all the ot!!!! 20 min yes 12
White lives matter 41 min hmmmm 3
Jesus Christ is the answer 4 hr dave 2
Thomas royal or Jessica Jenkins 4 hr Knows him 2
Is Keith Warren still married? 6 hr Larry 8
Jesus Christ is alive 9 hr Messenger 1
Women 9 hr yes 4

Georgetown Jobs

More from around the web

Personal Finance

Georgetown Mortgages