Toyota Still Suffering From Economic Downturn
RENEE MONTAGNE, host:
NPR's business news starts with more cost cutting at Toyota.
(Soundbite of music)
MONTAGNE: Toyota may have come out a winner in the government's Cash for Clunkers program. Corollas, Camrys and Priuses were among the most popular cars Americans drove away under the subsidized car-buying program.
Still, Toyota executives face what could be a record yearly loss, so they're slashing costs and global production. Today, the company announced its first ever long-term closure of an assembly line in Japan.
The factory line in Japan will be shut for a year and a half. A spokesman said the 1,700 workers there won't be laid off. Most will be transferred to another line or neighboring plants.
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