Toyo rolls out cost-saving measures

ERJ staff report (TB)

Tokyo — Toyo Tire & Rubber Co. Ltd. will reduce staffing, cut spending and optimise manufacturing in the coming months in an effort to control costs and lay the foundation for a business recovery by fiscal 2010.

Toyo disclosed its earnings recovery plan after acknolwedging it will report operating and net income losses in the fiscal year ending March 31.

The austerity program centers on three main actions, according to President and CEO Kenji Nakakura:

  • Build an appropriate manufacturing system meeting reduction of manufacturing;
  • Minimise spending…

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