Toyota plans overhaul to its pay structure in Japan

Tokyo

TOYOTA Motor Corp plans to change its seniority-based pay structure for workers in Japan that would erase salary gaps between age groups, the company's human resources chief said.

The carmaker will consider introducing performance pay for younger employees and wants to tie compensation more closely to talent rather than rank and tenure, Tatsuro Ueda said on Tuesday in Tokyo at an event hosted by Keidanren, the na…