Toyota Australia has announced that it will offer a round of voluntary redundancies, with 100 workers to leave the company’s Altona manufacturing plant at the end of November.
The best-performing of the three car makers in Australia returned to profitability this year, announcing a $149 million profit in June after tax for the year to March.
However, at the time it was reported that Toyota loses $2,500 for each Australian-made car. It announced today that it needs to reduce costs by $3,800 by 2018 to remain viable.
"We've got to continue to work hard to reduce our overall cost base," the company’s executive vice president Dave Buttner told AAP today.
2,500 are currently employed at the Altona plant.
"Our employees are our greatest asset, so it is with extreme sadness that we have to adjust our workforce," said CEO Max Yasuda in a statement.
The need to shed workers was today put down to a fall in exports to the Middle East. 70 per cent of production at Altona is exported, according to Toyota.
"As a manufacturer we are subject to fluctuating orders from our domestic and export markets, so we need to have the flexibility to respond to changes in conditions,” said Yasuda.
"We will now be working closely with all of our employees to ensure they understand why we have made this decision and support them during this difficult period."
The company announced last week that it sold its 2 millionth Australian-made car in Australia, and it recently celebrated its 50th year of operation in Australia.