OSAKA -- Matsushita Electric Industrial Co. plans to introduce a new pay system in which division managers conduct wage talks with their respective workers rather than the company doing it as a whole, company sources said Monday.
As a result, the leading consumer electronics maker will abandon its companywide pay schedule altogether, the sources said.
The company is expected to submit the plan to its labor union for review in early January in the hope that it can put the new pay system into practice as early as fiscal 2004, which begins in April of that year.