Earthquake batters manufacturing industries
Japan’s earthquake and tsunami also wreaked havoc on a broad swath of manufacturing facilities in the Tohoku region, one of Japan’s industrial hubs.
The calamitous earthquake and tsunami that ravaged northeastern Japan on Friday also wreaked havoc on a broad swath of manufacturing facilities in the Tohoku region, one of Japan's industrial hubs.
The disaster has damaged most of the major auto and electronics plants in the region, where many industries are concentrated due to its proximity to the Tokyo metropolitan area.
Roads and railways that are desperately needed to transport materials and products have been disrupted, while power outages continue across almost the entire region.
The shutdown of production of both key components and finished products has inevitably begun to affect factory operations in other parts of the nation. Exports have also been affected, further blighting the outlook for the Japanese economy.
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2012 Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.