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Toyota Motor said that it was considering additional cost reductions in North America because of the auto industry downturn, but has not planned for involuntary job cuts.
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David Zalubowski / AP Toyota. |
"No decisions have been finalized," Toyota spokesman Mike Goss said in a statement. "However, current business conditions are not forcing us to make involuntary reductions of Toyota team members."
The statement from Toyota came in response to a report from Japanese business daily Nikkei that the world's largest automaker was considering reducing up to 1,000 full-time jobs in North America and the UK.
The decision on job reductions would likely be finalized as early as this month and the automaker is also considering pay cuts, Nikkei said on its website without citing any sources.
The company aims to cushion the blow for employees with steps such as increasing retirement bonuses and helping with job searches, the newspaper said.
"This is an unprecedented time in the auto industry," Goss said. "Toyota has made several North American manufacturing adjustments in recent months, and we are considering additional steps for managing our business."
Toyota [TM
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], stung by the collapse in demand for cars and trucks in the United States along with its rivals, posted a 15 percent decline in U.S. sales in 2008. That result was still better than the auto industry's 18 percent decline overall.
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The automaker said in early December it was cutting North American production of its best-selling cars, including the Camry and Corolla sedans, in response to rising inventories.
Toyota also suspended work on a new plant in Mississippi slated to produce its Prius hybrid car beginning in 2010.
The industry downturn accelerated in October and November as the U.S. economy sputtered and many manufacturers have made broad production cuts to keep inventory under control.
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