Toyota cuts hours and wages

Toyota has confirmed that it will cut production and wages at its British plants by 10% in an effort to reduce labour costs.

The plan will come into effect on April 1 and affect the company's factories at Burnaston in Derbyshire and in Deeside, North Wales.

Toyota says its 'work share' arrangement will be in place for one year, and will monitor 'the market and company situation closely'.

Toyota's European sales fell by 10% last year.