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Toyota offers buyouts to California (629 managers) employees [View All]

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Omaha Steve Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-01-11 09:10 PM
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Toyota offers buyouts to California (629 managers) employees
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Edited on Tue Feb-01-11 09:11 PM by Omaha Steve
Source: Reuters

(Reuters) - Toyota Motor Co (7203.T) said on Tuesday that it had offered buyout packages in a bid to reduce the management staff at its U.S. sales headquarters in Torrance, California.

The move was the first time that Toyota has moved to cut workers at its U.S. sales and marketing operation and comes as the company struggles to restore momentum in the United States after a damaging series of safety recalls last year.

Toyota was the only major automaker to post a sales drop in 2010 and its sales gain of 17 percent in January only kept pace with a recovering U.S. auto market.

An e-mail notice sent to 629 managers at Toyota Motor Sales on Tuesday said the cost-cutting was needed because of the automaker's need to adapt to a changing industry.

Read more: Toyota offers buyouts to California employees
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