Toyota to cut North America production, offer buyouts

[chefdennis]

And Toyota asked for how much in Bailout dollars from the Fed government?

Toyota to cut North America production, offer buyouts

By John Letzing
Last update: 7:14 p.m. EST Feb. 12, 2009
SAN FRANCISCO (MarketWatch)
Toyota to cut North America production, offer buyouts - MarketWatch

Toyota Motor Corp. said late Thursday it will reduce production at its North American manufacturing plants "in the midst of the worst automotive slump in decades. Toyota said it will take steps including cutting production days in April, reducing paid hours for workers, eliminating executive "and salaried" bonuses, cutting executive pay and offering a "voluntary exit" to employees "who wish to pursue other opportunities." The automaker also said it sees "no wage increases for the forseeable future."

 

[OntarioVanMan]

kind of ironic...Americans getting laid-off because other Americans might be buying cars made by an American company.

 

[letzrockexpress]

Ironic indeed. The most ironic part about that is a Toyota, at least the Camry, is probably more american made than what is considered an "american made" car such as a Ford or Chevy, etc.

 

[layoutshooter]

I have been led to understand that the Toyota Tundra is the king of vehicals made in North America that has the most U.S. made parts. Layoutshooter

 

[OntarioVanMan]

Been to that Tundra plant in San Antonio....massive, huge! It is a self contained city...even part suppliers plants on site...

Then people will present the flip side of the coin...the profits leave America....my counter to that would be...with a publically owned company and they pay shareholders...does money really leave the country? The shareholders could be mostly foriegners.