Work-sharing means fewer job cuts, but also fewer hours worked per employee. This will further hurt consumer spending.
Toyota to move to work-sharing in U.S., UK-NikkeiDETROIT (Reuters) - Toyota Motor Corp will introduce work-sharing arrangements at its assembly plants in the United States and Britain to retain jobs after production cuts at these facilities, The Nikkei said on Thursday.
Toyota plans to begin the work-sharing arrangements at its factories in Indiana and Texas in the United States as well as plants in U.K., including a facility in the Derbyshire that assembles midsize cars and subcompacts, the Japanese business daily said.
Toyota workers who do not accept the work-sharing arrangement, which is expected to begin by the end of the month, will be allowed to apply for early retirement, Nikkei said.
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