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Toyota lays off 500 employees at Cologne HQ

Toyota makes almost 80 per cent of its Cologne-based F1 workforce redundant.

Following Toyota's decision to axe its F1 programme at the start of last month, it has been confirmed that 500 of its employees at its Cologne-based F1 factory have been made redundant.

According to reports by German news agency, DPA, the affected employees will receive partial salaries for up to 12 months, in addition to getting redundancy payments and re-training benefits.

The remaining 150 will shift to working on other projects, primarily focusing on road cars and other racing championships.

Toyota, which made its debut in F1 debut in 2002, blamed the economic downturn for its withdrawal.

Tagged as: Toyota , Cologne

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Mark _

December 04, 2009 8:50 PM

Wrong reasons? This is a business. Some businesses fail. While it is regrettable that 500 people are out of work these people were provided employment up until now. The independents teams cannot employ this many people. Toyota has put a lot of money into the sport. Nothing lasts forever. I fail to see how a bunch of independent teams who can barely afford to compete are better. They sacrifice driver talent for pay drivers and make deals with Max in order to stay on the grid.

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