- May 15, 2009
Toyota's drastic overhaul to reportedly replace 40% of management
While the Japanese automaker is reportedly working on slashing costs by $8.22 billion, it reported the first operating cost in its 71-year history last week. As further evidence of the company's struggle in today's marketplace, Toyota's net loss of $7.87 billion in the latest quarter exceeding even GM's net loss of $5.97 billion during the same period.
[Source: Automotive News - Sub. Req. | Source Image: Kazuhiro Nogi/AFP/Getty Images]