Japan’s biggest automaker also said it was slashing the time required for its U.S. production employees to hit the top pay level to four years from eight years, and boosting paid-time off as well. “We value our employees and their contributions, and we show it by offering robust compensation packages that we continually review to ensure that we remain competitive within the automotive industry,” Chris Reynolds, Toyota Motor North America's executive vice president, said in a statement.
Toyota production staff in Kentucky who are at the top pay level will see their pay go up by $2.94 to $34.80 per hour.
UAW workers will be receiving a salary increase of 11% based on a tentative deal the union struck with General Motors, Ford Motor and Stellantis once that agreement is ratified, and 25% wage increases through April 2028.