Tokyo, Mar 19: Toyota Motor Corp is planning to reduce hiring by half of new graduates next business year to cope up with the global recession. The world's largest carmaker is moving towards a record loss in the year ending on Mar 31.
Toyota is planning to hire 1,400 new graduates in the year starting on 1 Apr down from an estimated 2,733 in the current year. It will be the lowest number since 1996. The company has also offered a job sharing programme in United States and an early retirement for those employees who prefer to leave instead of joining the programme.
The leading automaker is expecting an operating loss of $4.69 billion this financial year.