At first this sounds like some scheme you’d hear out of Detroit. A company asking its employees to buy more cars. But at Toyota (TM), which tends to enjoy a sterling reputation among its employeesd, management is talking about voluntarily buying more cars to help the parent:
AP: The move underlines the hard times for Toyota, which stunned Japan by forecasting its first annual operating loss in 70 years for the fiscal year ending March 31.
The proposal was first aired late last month in an in-house letter that goes to about 2,200 middle-rank managers, who form a clublike group, said Toyota spokesman Yuta Kaga.
No one will be forced to buy a car, and they are free to pick any model they want, as long as it’s a Toyota, although the request was made again in a Jan. 9 meeting for the managers, he said.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.