Toyoto Motor Corp claimed on Thursday they were to negotiate with workers so they can minimize the salaries to cope with the world's slump in demand. Thus, Toyota spokeswoman Ririko Takeuchi states that a decision was made to slow the production at all Japan's plants for approximately 11 days over February and March - essentially a stoppage of Japan's top automaker. In addition, 3000 temporary workers are to be "shed" by the end of March. Fortunately, the job cuts have not severely affected the company as there are still 316,000 of those who are employed globally at Toyota. However, as Toyota President says,"Protecting employment is of utmost importance for us, but tough market conditions are likely to continue, and they could get worse."
It is obvious that the global economy is not faring well and the situation has begun to affect everyone. The Japanese, one of the many who recognize the decline in the global economy, will be forced to slow their productions. Who needs cars at a time like this? This will cause a chain effect as when cars stop producing, those who create parts for the cars will be unable to sell their metal, coal, etc. The future seems bleak as industries and companies will slowly crumble.
http://business.theglobeandmail.com/servlet/story/RTGAM.20090108.wtoyota0108/BNStory/crashandrecovery/home?cid=al_gam_mostemail
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