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Toyota winds down Australian operations

Dec. 03, 2014 3:38 AM ETToyota Motor Corporation (TM) StockF, GM, TMBy: Yoel Minkoff, SA News Editor2 Comments
  • Toyota (NYSE:TM) is cutting 2,600 workers in Australia citing high production costs and a strong Australian dollar.
  • The move is part of plans to stop producing cars in the country by 2018 and will bring its total workforce in the country to 1,300.
  • Ford (NYSE:F) and General Motors (NYSE:GM) are planning similar departures in the next few years, knocking down the rank of Australia among auto-making nations.
  • TM +1.1% AH

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