Toyota cuts 100 jobs in Australia image

Toyota Motor Corporation said it has decided to cut up to 100 jobs in its Australian business, in a move to further downsize its production capacity as export orders from the country continue to go down.

The Japanese carmaker, the world’s biggest, said it would make up to 100 voluntary retirements at its Altona manufacturing plant in the Victoria state, as it aims to begin reducing car production from 470 vehicles a day to 431. Currently, the company has a 2,500 people workforce at the Altona production facility.

“We are now seeing gaps in our plans that must be closed to secure investment for the next generation vehicle and to maintain our export program,” said Toyota Australia’s president and CEO Max Yasuda.

Exports make up about 70% of Toyota’s Australian operation, and the recent decreases in export orders, together with the higher costs attributed to the australian currency’s gains, have made its current manufacturing size “unsustainable”, the company said in a statement.

Via Reuters