Wages and Pensions

Toyota counters union wage request with smaller offer

6:25 am U.S. ET | March 16, 2015

Toyota, which makes more profit than all other Japanese carmakers combined, will offer to raise wages by one-third less than what its labor union requested....
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Union OKs 3% wage rise in Daimler, Porsche's heartland

Feb. 24, 2015 10:47 CET

Germany's biggest trade union, IG Metall, accepted a 3 percent wage increase for the country's southwest region, home to carmakers Daimler and Porsche. The union had called for a 5.5 percent increase. Deals agreed in the region traditionally serve as a template for agreements across Germany....
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Ford's new 1,550 workers for F-150 output pushes 300-500 to top-tier wages

12:01 am U.S. ET | Feb. 4, 2015

Ford is adding 1,550 hourly employees in the first quarter to increase output of its aluminum-bodied F-150 pickup. The hires will cause between 300 and 500 UAW members earning Tier 2 hourly wages of $19.28 today to rise to top-tier status with hourly wages of $28.50....
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TRW strikes $440 million deal to shift U.S. pensions

2:49 pm U.S. ET | Dec. 16, 2014

TRW Automotive Holdings struck a deal to transfer U.S. pension obligations to MetLife as the maker of auto parts works to limit liabilities....
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Stagnant wages are a drag on new-car sales

12:01 am U.S. ET | Dec. 8, 2014

One reason auto sales in the United States still aren't quite back to the 17 million-a-year pace seen during the boom years before the recession: Many consumers haven't gotten much of a raise since then....
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In Mexico, a booming auto industry but stalled living standards for workers

12:01 am U.S. ET | Nov. 28, 2014

Mexico’s booming automobile industry is generating more export dollars than oil, building more cars than Brazil and giving a job to Esmeralda Velazquez. What it isn’t doing is raising her living standards....
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Visteon transferring $350 million in pension assets to Prudential

1:40 pm U.S. ET | July 16, 2014

Visteon entered into an agreement to transfer a portion of its U.S. pension assets to Prudential Insurance of America as part of its ongoing restructuring....
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VW targets $6.8 billion in annual cuts to close profit gap with rivals

11:18 am U.S. ET | July 15, 2014

Volkswagen AG plans to cut costs and boost productivity at the VW brand by $6.8 billion a year by 2017 to lift sagging profitability. Efficiency gains have failed to keep pace with rising labor costs, CEO Martin Winterkorn said in an internal presentation to company managers....
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