BANGKOK – Japanese car maker Toyota says it is letting go of at least 800 workers at its factories in Thailand under a voluntary departure program.
In a statement Wednesday, Toyota Motor Thailand said the company aims to reduce by up to 900 its staff strength of 16,477 at three manufacturing facilities due to declining sales.
It said about 800 contract staff have already accepted a termination agreement under which they will receive a 16-day bonus and one month's salary. The company also has promised to re-employ all workers if the industry and market improve in the next year.
Toyota reported a 13.4 percent drop in sales for the first five months of this year compared to the same period last year.