Japanese automakers cut 25,000 jobs, slash output: survey
Japan's top 12 automakers expect to cut a total of 25,000 jobs in the current business year to March to cope with the industry slump.autos Updated: Jan 26, 2009 15:24 IST
Japan's top 12 automakers expect to cut a total of 25,000 jobs in the current business year to March to cope with the industry slump, a survey said on Monday.
The companies plan to reduce their combined production by at least three million vehicles from their original target for this year, according to figures compiled by Jiji Press.
Toyota accounts for about half of the reduced output, with a plan to make 1.5 million fewer vehicles, Jiji said.
The companies may announce further cuts to jobs and production before the end of the fiscal year as the recession deepens, it added.
Japanese automakers have been hit hard by weak demand due to the global economic crisis, despite being in better shape than the US Big Three -- Ford, Chrysler and General Motors -- which were forced to seek emergency aid from Washington.