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Acorns!
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Honda to cut managers' salaries 5%


Tokyo -- Honda Motor Co. said Monday that managers' salaries would be slashed 5% starting next month to cope with sliding sales. The cut comes on top of the 10% pay reduction for directors announced last month.

The move affects about 4,800 managers at Honda group companies in Japan, but not those hired by Honda's overseas units, the company said. The reduction continues through May, and what happens after that is still undecided, it said.

Japan's No. 2 automaker has been battered by the plunge in demand in major auto markets including the U.S. The rising yen also hurts Japanese exporters by reducing their overseas earnings.

Last week, Honda slashed its profit forecast for the fiscal year ending in March by 57% to 80 billion yen ($890 million) from an earlier expectation of 185 billion yen ($2 billion).

The latest projection marks an 87% slide from the 600 billion yen earned the previous year.
 

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Interesting.

At least their doing better than the BIG 3 lol..
 

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damn these times, sucks for them i guess
 

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Six eyes
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This is never good news, but at least Honda has the foresight to do this before any permanent damage is done.
 

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The big 3 are still firing people..

I thought the whole point for them to get bail out money was to save jobs and change things around. I guess they will never learn. What a waste of tax payers money!
 

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I havent heard anything big about Honda cutting jobs and etc.

I wonder how many people the big 3 laid off all together compared to other companies.
 

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Pillar of Objectivity
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The Big 3 should heed - not one of those executives heading the companies deserve a fraction of what they get paid.

This is why Japan > America in terms of common sense. Capitalism's benefit only goes until people become to absorbed by greed. This is easily observed when looking at CEOs of the Big 3.
 

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not that im an american car fan, i never want to see them do badly because of what it means for our economy. i wish they could take a page out of honda's book and cut pay. some onf those guys were making 900k...900k to make a cobalt and a g5 so they can compete against eachother? i thought that was retarded since i was a kid.
 

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im surprised this is even happening.... the reason why they arent failing is that because Honda Stealerships have BS mark-ups on their cars and they never have good sales? that "extra" money from those things are keeping them from failing.
 

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The Big 3 should heed - not one of those executives heading the companies deserve a fraction of what they get paid.

This is why Japan > America in terms of common sense. Capitalism's benefit only goes until people become to absorbed by greed. This is easily observed when looking at CEOs of the Big 3.
I am not sure if it is common sense or just the "team first" ethic that Japan exhibits. The US is more of a "me first" mentality whereas I think the Japanese culture is more geared towards the needs of the many over the needs of the few.
 

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I am not sure if it is common sense or just the "team first" ethic that Japan exhibits. The US is more of a "me first" mentality whereas I think the Japanese culture is more geared towards the needs of the many over the needs of the few.
well put, it's not like the people taking the pay cuts are going into the poor house either. Just that they'll only get a full spread exotic fish sushi platter for 5 nights out of the week instead of all 7, the maid is gonna have to take care of those other nights
 
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