Auto Knight

Toyota Hiring Less Graduates

by Darren

Toyota will hire less than half the usual number of college graduates next year, due to the global downturn. Toyota is heading towards a huge loss for the year and is seeking to minimize expense where it can.

Next year Toyota plans to hire 1,400 grads, down from this year’s total of 2,733.

That’s the lowest number the company has hired since 1996, a spokesman for the company stated.

Since January 2008 global auto sales are down nearly 25%, which is affecting all major car makers. Toyota is forecasting a loss of just under $5 billion for the year.