THAILAND: Toyota cuts staff and production in Thailand
Toyota Motor Thailand (TMT) plans to terminate 350 short-term workers' contracts out of 5,500 across its Thai operations as it prepares for falling worldwide demand for its vehicles. The company this month revised down its Thai vehicle production forecasts for next year from 500,000 to 450,000 units, compared with a planned 570,000 units in 2008.
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