Toyota F1 to Cut 550 Jobs at Cologne

Toyota announced yesterday that they will quit Formula One racing with immediate effect, but that isn't to mean the Cologne factory won't continue to function for other motor racing projects. As confirmed by the Japanese manufacturer yesterday, leaving F1 doesn't equal leaving the motor racing world, therefore Toyota will continue to remain active in the racing operations.

“In motor sports, it (Toyota Motor Company) will not only race in various categories, but will also actively contribute to further development of motor sports by supporting grassroots races and planning events in which it is easy for people to participate,” said the press release from the Japanese car maker yesterday.

However, as some of you might have already guessed, “grassroots” series will not require the same amount of employees (and other resources). Consequently, Toyota will proceed in laying off plenty of employees at Cologne, and the German media already started working on the kind of speculations.

Shortly after Toyota made their withdrawal announcement, Germany's Auto Motor und Sport revealed that approximately 550 people will be fired by the Japanese company. The information was obtained via a current employee of Toyota F1, who told the aforementioned publication that only 150 people will get to keep their jobs at the Cologne factory in 2010.

The amount of people currently working for Toyota's F1 programme is around 700 people. As there are little chances that the team will be sold to an outside investor and be kept alive in Formula One, the people remaining will be redirected to other series. According to several reports, the Le Mans Series seems the most likely destination for Toyota in terms of motorsport programmes in the near future.