Toyota to cut up to 100 jobs in Australia as export orders drop
SYDNEY (Reuters) - Toyota Motor Corp (7203.T) said on Tuesday it would cut up to 100 jobs in Australia, a move to downsize its production as export orders dropped.
Exports make up about 70 percent of Toyota's Australian operation, and the drop in export orders has made its current manufacturing size "unsustainable", the company said in a statement.
"We are now seeing gaps in our plans that must be closed to secure investment for the next generation vehicle and to maintain our export program," said Toyota Australia's president and CEO Max Yasuda.
The carmaker would make up to 100 voluntary redundancies at its Altona manufacturing plant in Victoria state, as it reduced production from 470 vehicles a day to 431.
Toyota employs 2,500 people at the Altona plant.
(Reporting By Maggie Lu Yueyang; Editing by Richard Pullin)