|
|
Post by Gokhan on Apr 28, 2014 12:32:53 GMT -8
This is really bad for Los Angeles jobs. Toyota is moving its Torrance US headquarters to Texas. LA has become unaffordable even for companies. Toyota moves from Torrance to Texas |
|
|
|
Post by masonite on Apr 28, 2014 14:26:24 GMT -8
This is really bad for Los Angeles jobs. Toyota is moving its Torrance US headquarters to Texas. LA has become unaffordable even for companies. Toyota moves from Torrance to TexasI agree. This is a lot of good jobs. It was only 10 years ago when Honda, Nissan and Toyota were all located in the same area of the South Bay. Also, the biggest public company in Los Angeles, Occidental Petroleum is moving to Texas too (headquartered right next to the future Westwood Purple Line Station), which is a big blow. |
|
|
|
Post by Gokhan on Apr 28, 2014 15:12:43 GMT -8
They could probably cut the salaries in half in Texas and save hundreds of millions of dollars a year.
|
|
|
|
Post by LAofAnaheim on Apr 29, 2014 11:24:45 GMT -8
They could probably cut the salaries in half in Texas and save hundreds of millions of dollars a year. They can, but high value talent would rather be in the major urban cities. Moving to Texas, you lose out in high quality talent as they'd rather stay closer to a major cultural city center, urban walkability, weather, etc... There's other factors in play other than cost, and hopefully Toyota understood all that. Otherwise, the jobs are coming back like Boeing did earlier (http://www.ocregister.com/articles/boeing-609340-jobs-engineering.html) |
|
|
|
Post by bzcat on May 1, 2014 14:55:12 GMT -8
I know 4 people that works at Toyota HQ and all of them said no to moving to Texas. So that looks like Toyota's plan all along - they know that most of the Torrance based employees will probably not move and give up the quality of life in Southern California to live in Plano, Texas. So this is one way for Toyota to drastically reduce their salary base without coming off as a really terrible employer - they can hide behind their employees decision and say they didn't fire these people to replace them with cheaper labor in Texas.
When Nissan moved to Tennessee a few years ago, only 20% of employees took up the offer to move with the company. I'd expect the percentage to be similar with Toyota.
|
|
|
|
Post by jamesinclair on May 23, 2014 23:39:34 GMT -8
I know 4 people that works at Toyota HQ and all of them said no to moving to Texas. So that looks like Toyota's plan all along - they know that most of the Torrance based employees will probably not move and give up the quality of life in Southern California to live in Plano, Texas. So this is one way for Toyota to drastically reduce their salary base without coming off as a really terrible employer - they can hide behind their employees decision and say they didn't fire these people to replace them with cheaper labor in Texas. When Nissan moved to Tennessee a few years ago, only 20% of employees took up the offer to move with the company. I'd expect the percentage to be similar with Toyota. But thats not a good thing for the company. If I owned shares, Id be very worried that theyre losing all their talent. |
|
