Toyota expects to lose $3.85 billion

[Coventina]

Source: Detroit Free Press

In order to cope with the global economic crisis, Toyota Motor Corp. said Friday it is resorting to a new round of cost cuts so that it can deal with an expected year-end loss of about $3.85 billion.

The expected loss would be Toyota's first since 1950, and is the latest sign of trouble for a company accustomed to growing year after year. Toyota's fiscal year ends March 31.

"Toyota had sustained a strategy of expanding production capacity, and the burden of fixed and variable expenses has risen sharply," Nikko Citigroup said in a report Friday.

(snip)

And yet, Toyota said it remains committed to its longstanding policy of shunning layoffs of its own employees.



Read more: http://www.freep.com/article/20090207/BUSINESS06/902070367/1019/Toyota+expects+to+lose+$3.85+billion

[Idealism]

1. Clearly they need to fire the entire management and cut the greedy worker's salaries

[GreenTea]

2. "Shunning Layoffs". What patriotic American corporation would do the same?

None.

They see all money as theirs for the taking and they want more and more and more....They can't spend it all and they don't try, they don't help the economy but want tax cuts, subsidies and bailouts and they want more and more and more...

Laying off workers, hey, that saves them even more, and then they want the workers taxes for bonuses, for their own fuck ups, that put their own workers out of a job...Still it's not enough, they want more and more....these sick greedy fucks who use the corporations to hide behind then steal workers pensions, break unions that help workers get fair pay...

The corporations steal everything, they pollute the planet with toxicity's, deny it and want more & more resources to fuck up and exploit....

Finally they file bankruptcy after they stole all there is to steal, merge, receive more of our tax dollars and move on to do it all over again.

[corruptmewithpower]

3. I drive a Toyota now and it's by far the best damn automobile I've ever

had. If they can't make money selling such terrific cars, nobody can. This economy sucks!

[nyy1998]

5. hell yeah

i love my '98 lexus, it's reliable and comfortable....even nice, cheap cars requires a lot of capital and credit and no one has that in this economy

[ConcernedCanuk]

6. Toyota and Honda have made some amazing cars - long ways from the "cheap" image

.
.
.

I still drive a big old 1979 Ford 4x4

but I NEED it

I do not do long drives - my average mileage in a year right now is less than 2,000 kliks

I've moved 3 times in the last 5 years - and have to move again shortly

Hauled firewood for heat and cooking

As much as I admire Honda and Toyota's vehicles -

They just wouldn't be functional for me . . .

BUT THEY GET MY VOTE as great vehicles!

[dcindian]

4. They must not be making cars people want to buy.

Chirp