Toyota’s China Venture Slashes 1,000 Jobs Amid Slowing Sales

Toyota Motor Corp.’s China joint venture with Guangzhou Automobile Group Co. dismissed 1,000 contract workers as part of a production adjustment in the world’s biggest auto market.

The job cuts mainly affect the production department and are part of a normal organizational reshuffle in response to the market, a spokesperson for GAC Toyota Motor Co. Ltd. told Caixin Tuesday. The company has no plan to slash capacity or alter production lines in the near future, the person said.