Toyota Might Move Jobs from US HQ

Japanese carmaker Toyota might transfer some jobs from its headquarters in Torrance, California to other locations such as Kentucky and Michigan. In a report rolled out today and citing two sources close to the matter, Bloomberg noted that several departments, including product planning, accounting, travel and data, might be the subject of this cost-cutting move.

Additionally, the Japanese parent manufacturer might also encourage 200 managers currently working at the sales division in Los Angeles to leave the company using an early retirement option.

"Toyota's North American affiliate companies have no plans to change their multi-company structure, nor plans for any significant geographic relocations of personnel outside of normal operations," Toyota said in a statement released today.

"Emphasis has been placed on finding new efficiencies, shared services and enhanced collaboration to address the changing economic conditions and prepare Toyota for the future automotive market environment."

Toyota is also looking at ways to close the NUMMI joint venture as the deadline of March 31, 2010 is getting closer. The company is reportedly forced to pay the closure costs as Motors Liquidation Corp., the entity that took over some assets after GM's bankruptcy filling, is not willing to financially contribute to the process.

"Motors Liquidation is not contributing at all to Nummi's closure costs," Tim Yost, Motors Liquidation Corp. spokesman, said in a statement. "We don't believe there will be a requirement for us to do so."

"Neither GM nor MLC have contributed any funds toward Nummi's end-of-production costs," said Lance Tomasu, a venture spokesman. "We do not know what the overall cost will be."