Toyota UK Cuts Hours and Pay by 10%

The British arm of Toyota Motor Corp today announced that due to the sharp downfall in demand for new cars, it will temporarily reduce working hours and base pay by 10% at its UK factories. The cuts that will take effect from 1st April, 2009, will affect almost 4,500 employees at the firm's plants in Burnaston, Derby, and Deeside, Flintshire. "We believe the measures we have announced give us a greater opportunity to maintain employment through this difficult period," said Toyota in a statement.