Toyota to cut 350 Australian jobs

Last updated 19:32 23/01/2012

Relevant offers


Banker on bail after 'putting bouncer in coma' Coles fined for duping customers 'Rape' T-shirt firm out of business Qantas delays new planes NZ, Australia look to tighten economic ties Toyota to cut 350 Australian jobs New chief executive for News Ltd Making data science a sport Australia cuts OCR for first time since global crisis Qantas risks travellers' wrath for result

Toyota Australia has confirmed it will cut 350 jobs due to pressures caused by the high Australian dollar.

The company will immediately adjust its workforce at its manufacturing plant in Altona, Victoria, with plans to implement about 350 compulsory redundancies, Toyota said in a prepared statement.

Toyota Australia president and chief executive Max Yasuda said: "It is unfortunate that we have to take this action and we will ensure affected employees are supported during this process.

"In consideration of current and anticipated market conditions this action is necessary," he said. "It is not possible to maintain our workforce at its current size.

"Toyota Australia is facing severe operating conditions resulting in unsustainable financial returns due to factors including the strong Australian currency, reduced cost competitiveness and volume decline, especially in export markets."

Mr Yasuda said the company's vehicle manufacturing production levels had reduced from 149,000 in 2007, to 94,000 in 2011, and an expected 95,000 cars in 2012.

"The reality is that our volumes are down. What we assumed was a temporary circumstance has turned into a permanent situation," he said.

"This drop of 36 per cent in just four years shows the scale of our challenges."

Ad Feedback


Special offers

Featured Promotions

Sponsored Content