Guangqi Toyota in China to cut 1,000 jobs
-Early termination of 1,000 temporary workers-
– There is not much time left for Japanese joint ventures –
We will deliver a summary from the article published in recordchina.
21st century economic coverage:
25 July 2023,
Guangqi Toyota reported that it will cut 1,000 dispatched workers.
GAC Toyota:
Japanese-Chinese joint venture automaker
Source story:
Guangzhou Toyota reduced its workforce in view of recent production levels.
Terminated contracts for 1,000 temporary workers early.
Guangqi Toyota comments:
Partially dispatched employees are eligible.
It does not involve regular employees.
“It’s a normal step-by-step adjustment, not a large-scale restructuring due to declining sales.”
Employees subject to contract cancellation:
Last weekend, the contract was terminated and compensation was offered.
Temporary employees:
During the day, I received a text message telling me that I didn’t have to go to the night shift.
In the evening when I returned from the day shift, I received a message to cancel the contract.
It was a sudden cancellation notice for temporary employees.
Guangzhou Toyota sales volume:
In June, 87,200 units were sold, down 13.5% year-on-year.
Cumulative sales volume from January to June was 452,800 units, down 9.48% year-on-year.
NEV sales volume:
The cumulative sales volume from January to June is 137,700 units.
It accounted for 30.4% of the total.
However, it is lower than the NEV penetration rate of 32.4% in the Chinese market.
The company’s transition to electrification is slower than the industry average.
Japanese NEV:
Guangzhou Honda, Dongfeng Honda,
Dongfeng Nissan, Shanghai Automotive, etc.
Accelerating the launch of NEV.
But the time left for Japanese joint ventures is not long
https://www.recordchina.co.jp/b917835-s25-c20-d0193.html
Toyota’s joint venture in China:
Early termination of contract for 1,000 dispatched workers
-Voices of Internet users of Yahoo! News-
The main opinions are as follows.
Deflation in China:
Overall sales of Chinese cars are negative.
The number of NEV sales also peaked.
This shows that China is in deflation.
The harsh winter will come for Japanese manufacturers from now on.
Toyota’s decision is correct:
Profitability is not expected even if EVs are forced to be promoted in China.
In the future, the Chinese economy will continue to decline.
Other Japanese companies should also withdraw from China as soon as possible.
https://news.yahoo.co.jp/articles/ec36d15f0a3cf4f519c1948e7b6e32a8bdb93160