Nikkei: Toyota are pulling out of manufacturing in Australia … but it might have been different via ForexLive

From the Nikkei today:

• Toyota announced back in February that it will halt Australian output by the end of 2017
• Toyota had hoped to cut costs and maintain production in Australia by altering the work agreement
• But in December 2013 a federal court blocked the Japanese company's Australian unit from seeking changes to the agreement
• Then, on July 18, a federal appeals court ruled that Toyota Motor Corp. Australia did, after all, have a right to put its desired contract changes to a vote by workers

…

But it was too late, innit?

Toyota, General Motors and Ford Motor are all pulling out of Australia… some 40,000 people are expected to lose their jobs due to the three companies' planned exits.

posted via ForexLive