Yesterday (23rd January), Toyota Australia announced it has axed 350 jobs at its manufacturing plant at Altona in Melbourne’s west.

The decision came at 3.30pm yesterday afternoon when the workers’ union became suspicious after the parts-supplier had already planned for substantial cuts for the Toyota plant.

Manufacturing Minister Kim Carr said the reason for the job cuts is because of the high Aussie dollar. A high dollar means it sends production costs for global companies like Toyota through the roof.

”I understand how personally distressing this situation is for each of those 350 workers and the government will do everything it can to help them,” Carr said.

Traditionally, Toyota exports around 70% of its production, keeping 30% for local employment. With a tough economy, Toyota is now finding it hard to justify spending much needed cash on Australian employment.

Image Source: News.com.au

So we ask you the question, would you rather pay a bit more for your 4WD, knowing your money is contributing to Aussie jobs?