- 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
Toyota winds down Australian operations
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Symbol | Last Price | % Chg |
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TM | - | - |
Toyota Motor Corporation |