Yamaha has the decision was made due to falling global demand for its machines and that it will concentrate production in Europe at just one factory due to "excess production capacity."
"All over the world, and Europe in particular, there has been a prolonged fall in sales figures which forces Yahama to take steps to restructure its industrial capacity," the company said, according to Agence France-Presse (AFP).
Yamaha’s Palau factory was capable of producing 130,000 units a year, while in 2010 they only produced 96,000.
Late last year Yamaha announced it has decided to continue into 2011 the reduced remuneration for Directors and Executive Officers implemented in 2010, and that it will also continue to accept the Corporate Auditors’ offer to forgo a portion,namely 20% of their remuneration.
There will be no bonuses for Directors and Executive Officers , while the reduction in monthly remuneration will be of 15 to 30%.
“The reductions in the monthly remuneration of Directors, Executive Officers and Corporate Auditors described above are scheduled to remain effective from January 2011 through June 2011, after which they will be reviewed in light of business environment and results,” Yamaha said.
Also, to enhance motorcycle sales, there have been two business unit created, as follows:
- the “1st Business Unit” will primarily be in charge of Asia, China and Central and South America, and will include the “Business Planning Division,” “Cost Planning Division,” “Asia Marketing & Sales Division” and the “China & CSA Marketing & Sales Division.”
- the “2nd Business Unit” will primarily be in charge of Europe, North America, Oceania and Japan, and will include the “Cost Planning Division,” “Europe Marketing & Sales Division” and the “Japan, North America, Australia & New Zealand Marketing & Sales Division.”
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