Toyota closure in Altona (Vic)

This has been a long time coming. Some researchers are predicting some massive trickle down job losses. hoping that most of the employees being let go were preparing for the day.

More than 2,500 jobs to go as Toyota announces end to Altona production

 

I think it is not something unexpected as Toyota as has announced closure long ago. If someone has not planned accordingly yet it is unfortunate.

It is kinda sad that people train themselves to work in a certain industry and with a single employer.

 

MT could perhaps try and do a "Trump Tariff" and bring back some jobs.

Especially for cars that are Made in Japan and directly imported, no reason why they can't be manufactured in Aus at similar costs. After all, wages and such should be pretty expensive in Japan too.

But then again if the gov has to subsidize this industry then its probably better that its gone.

I heard that green tea farming is highly profitable and ramping up in Victoria. Perhaps thats an industry the state gov can aim to promote.

 

Personally I find it very sad when a company (particularly a large employer) shuts down. Not only the direct and indirect job losses and impact to local communities, but the impact to the nation in terms of macro skills and intellectual property.

Are our government leaders learning from these departures? What practical ways can we change the way the country conducts itself to attract (and retain) multi-nationals who are generally large employers?

 

When factory closed here everyone thought the world was going to end. And here we are trucking along just fine.

I'm sure Melbourne will live.

 

Literally a couple hours ago he did a National Press Club speech where he damned protectionism and praised open markets.

 

Open markets only work if all participants act fairly and in good faith...

For example, China sponsoring/subsidizing/funding their state owned enterprises with unlimited cheap money and artificially flooding the market with cheap products like steel for example. It's killing off the steel industry in all other nations that trades freely with them. This has forced Europe to put tariffs on Chinese steel most recently

Sure free market is good, until someone plays unfairly and squashes the industry in your country, and when the local companies go bankrupt, guess who swoops in and buys up all the cheap assets? After which that industry is monopolized and owned by a foreign company.

 

Yep.

We've got to stop these irresponsible people training themselves to work in a certain industry...

Doctors, dentists, plumbers...

 

Turn Coat wouldnt have a clue,bring in Pauline.

 

don't think I need to iterate the differences between a doctor working as a GP to a toyota car manufacturing factory employee to you. Agree?

 

We have known this was coming for years, and markets have already factored it in to their forward outlooks. Direct employees are receiving an average paying of $150k, ~2x annual wages. The government also has a support plan worth around $50k per employee, so i think as far as major industry closures go, this has to be the most well supported in history.

The majority of Toyota's suppliers are international companies that have somewhat diverse clientele and will likely find new business elsewhere. There are a small number of local suppliers that will no doubt be affected, but as car companies move to import models backed by local R&D facilities, there will still be scope for continued work (such as logistics and transport contractors, engineers, marketing etc.).

Toyota export ~70,000 cars each year. At an estimated average value of $30k each, this makes up ~1% of total Australian exports. Impact on the economy is going to be less than the newpapers are giving it credit for.

 

I agree there are differences, but the impact of job loss after making a career of either profession is the same to the individual. Then further to that the loss of your entire industry.

 

no. not an apple to apple comparison.

If medical industry is disappearing we have much bigger problems. Don't worry about job loss.

A car manufacturing plant can close because of bad executive decision.

 

Not really the point I was was trying to make, my intention was not industry comparison, but rather the impact to the individual regardless of profession. Job loss alone is hard enough, then compound that with your industry/profession now obsolete. also having to now compete to regain employment at a time where fulltime employment and wage growth are declining.

 

Yes, that is why I said its sad. Terrible!

 

There has been pretty generous education and training provided as well as lengthy redundancy payments. Sad for sure, but not too many unhappy campers.

It was also known for a very long time.