Toyota Hit Hard
When things are good, businesses often need to expand production quickly; they add shifts to existing factories, build new ones, improve processes, buy more efficient machinery, etc. But when things are bad, they also need to react. They can't keep piling up products that aren't selling, and so they cut shifts, shut down factories temporarily or permanently. This is what's happening to Toyota: All of its Japanese assembly lines are shutting down today, except for one.This also follows the Mississippi Prius plant that has been put on hold.
Toyota, now the world's largest automaker, plans 10 more days like this, spread out over the next two months. Toyota's incoming president, Akio Toyoda, called the current economy "unprecedented, the likes of which haven't been seen in 100 years."
And the past 100 years include a lot of tough periods for Japan...
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