03-06-2009, 05:58 AM | #1 |
Lotus Factory Guy
Join Date: Jan 2008
Posts: 182
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JM&A Southest Toyota Lays off 500
Just read this article in Automotive news. JM&A/Southeast Toyota allways bragged that they had never layed off an employee. I guess the times they are a changing. Even though they have the number one sales area in the country they are still feeling that 40% drop in sales. The start of the article is below. 500 Employees may not sound like much but their total workforce was not over 5000 employees so this cut amounted to just over 10%.
I remember sitting in our annual sales meeting when the Southeast Toyota guys would present and they would talk about how they could never get enough cars from Toyota and how fast they were growing. It is amazing how quickly fortunes can change. JM Family Enterprises Inc., owner of the distributor that accounts for 16 percent of Toyota sales in the United States, has dismissed 500 employees because of the shrinking auto market. For those of you who do not know who Southeast Toyota is they are the largest independent distributor of Toyota's in the world. They have been a distributor since the sixties and run their own port facilities where the cars come in from Toyota. They also run their own processing facility where leather, wheels, etc. are installed on the vehicles before being sent to the dealers. They also distribute their own parts, sell their own service contract and have their own finance company. They are essentially a mini Toyota here in the states. |
03-06-2009, 08:54 AM | #2 |
Administrator
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I saw that headline and was surprised too.
JM&A is a huge, successful, vibrant company and if they decide to layoff 10% of their employees it definitely sends a signal about their vision of the future. Clearly they have the cash to ride out the storm, my guess is they don't see sales volumes returning to 2007 levels anytime soon so they made the hard decision to layoff employees. |
03-06-2009, 03:36 PM | #3 |
Super Moderator
Join Date: Jan 2008
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Gulf States Toyota is another example of a Toyota distributor. I wonder how they are doing?
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03-07-2009, 09:57 AM | #4 | |
Administrator
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Quote:
It's possible they may be downsizing too, it's just not newsworthy because their organization is smaller than JM&A? |
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03-08-2009, 07:26 PM | #5 |
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I'm headed to a Gulf States location this week, so I'll find out.
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03-08-2009, 11:30 PM | #6 | |
Administrator
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Quote:
There's snow in the forecast here in Western Washington and there's just something about "Gulf States" that sounds warm. I hope that you have a great trip and get to enjoy some warm weather. |
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