Toyota Will Cut Domestic as Sales Plummet

Kaycey Cook
1:28 pm
9-4-09

Toyota will be shutting down an assembly line in Japan in order to cut costs because of the car sales falling to the lowest in thirty years. They plan on transferring the 1,700 people, who currently work that assembly line, to other toyota factories. Spokesmen said that toyota, which is the world's largest carmaker, has experienced a $4.8 billion net loss for the year, ending in march. This net loss continues the three year running streak.They hope to reduce production-related costs and return to profit over the next year. Also, toyota will be shutting down some plants, such as one a joint-venture one in California with General Motors Company.
I believe that this shuttind-down of lines and plants is an all too well-known reminder that we are, in fact, in a recession. Most people do not think of the current economic crisis in a global standpoint, however, we must realize that not only is America in a recession, but other countries, such as Japan, are also feeling the effects of the economic downfall. Not only do they have their own countries economy and the loss of their domestic jobs, but also with the realization that they may lose jobs due to other countries pulling out at such a hard economic time.

http://www.bloomberg.com/apps/news?pid=20601101&sid=avdxlCpHth4I