Toyota Plans to Lay off Thousands of Workers

0 comment
18,041 views

Toyota has announced its plan to cut its workforce, affecting more than 1,000 employees in UK and North America. With the ongoing economic recession, the company has slumping sales due to low car demands which also prompted Toyota officials to suspend production for few days to reduce the surplus.

Toyota Motor Corp. has announced its plan to lay off more than 1000 employees in UK and North America, according to a report released on Friday.

According to a senior official of Toyota who asked for anonymity, seven factories in North America and one in UK will have its workforce reduce which will be finalized before the end of this month.

In a statement released by the Japanese car maker giant, it said the company still prioritizes its employers’ welfare.

According to a company spokeswoman, Toyota has not laid off regular workers since 1950.

Few weeks ago, Toyota had suspended operation for a couple of few days to reduce the number of cars in stock, adding that it will again postpone its manufacturing activity in the coming months to avoid high surplus.

With the ongoing economic crisis, auto industry is one of the most greatly hit economic sectors as companies are reeling from slumping sales and low car demand which are expected to continue as experts predicted that recession will be deep and protracted.

Meanwhile, despite sales report which revealed that Toyota beat US automaker General Motors as the world’s top car maker, it has not escaped from economic slowdown which greatly hit the auto industry.

<< The Merger of Pfizer and Wyeth is seen by Some Experts to Boost Revenue

Amazon Sales Up Amidst Recession >>

Toyota Plans to Lay off Thousands of Workers

Comment

Categories

Popular News