NAGOYA (Kyodo) Toyota Motor Corp. plans to expand a program under which it rehires retired employees, Toyota Senior Managing Director Akio Matsubara said Thursday.
Union negotiations on the issue will begin after the end of the ongoing spring labor talks, Matsubara said.
Toyota usually rehires about 100 retired employees a year, mostly mechanics and technical workers at assembly plants, for up to three years.
Matsubara added that in-depth discussions on possible reviews of the mandatory retirement age and the pension system are expected to progress during next year’s spring labor-management talks. He did not elaborate.
The mandatory retirement age at Toyota currently stands at 60.
Reiterating reported plans by Toyota management, Matsubara sounded positive about fully meeting employees’ demands for bonus payments for this year.
Toyota’s labor union is demanding bonuses worth five months’ pay, plus 530,000 yen, or 2.35 million yen.