Toyota’s new president sees darker days; takes a 30% paycut to help alleviate costs

The company’s losses over the past two years have been nothing short of staggering with reports that it has lost over 461 billion yen ($4.8 billion) in the past year alone. So far, the only reason for optimism Toyota can boast of these days is the strong showing of the Prius hybrid, which has had more than 180,000 orders in Japan alone.

Despite their current situation, Toyoda also stressed that the company is not looking into laying-off any of its employees, as what other manufacturers have been forced to do over the past few months.

The company still plans to retain its workforce so that when the market recovers, Toyota will also have the means to meet what they could hope as soaring demands then.

You can’t say that Toyoda isn’t being hands-on with his new role as Toyota president. He’s even made the ultimate sacrifice of dinging up for a 30% pay-cut to help alleviate the company’s expenses as it trudges through what has been one of the most difficult times in Toyota’s history.