Toyota Motor Corp is to halve the number of temporary workers it employs in Japan, its domestic market as sales continue to get worse.
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A total of 3,000 jobs will go by the end of March next year at the company’s domestic plants out of a total of 6,000 domestic temporary workers, the company said.
The news of Toyota’s job losses comes hot on the heels of announcements yesterday that two other Japanese automotive employees would be cutting contracts.
Isuzu has announced that it is to trim 1,400 domestic jobs and slash domestic production by 10% over the previous target. The move reflects a deteriorated orders picture.
Meanwhile, Mazda has said it will scrap 1,300 jobs and has lowered its production target for this financial year to 1.048 million vehicles, 48,000 units fewer than originally planned.
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By GlobalDataEarlier this month, local Japanese reports said that Toyota is expected to cut its global sales plan for 2009 to below 9m vehicles, down at least 7% from its previous forecast.
At the start of November, the Japanese group cut its full year estimates. Toyota said estimates for net income had been cut to JPY550bn versus the JPY1,250bn predicted just three months earlier. Revenue are now expected to come in at JPY23 trillion.
All of this compares with fiscal 2007/8 revenue of JPY26.3 trillion, operating income of JPY2,270.3bn and net income of JPY1,717.8bn.
