Although Toyota, continues to keep its North American workforce intact, the company announced on Thursday, February 12 that hours will be reduced, wages frozen, and a voluntary exit program offered.

Calling the philosophy one of "shared sacrifice," Toyota is looking at belt-tightening after posting its first financial negatives since 1950.

Standing by its workforce, which is mostly comprised of non-unionized laborers in the United States and Canada, Toyota has taken extreme measures to keep the paychecks flowing even as assembly lines have been idled.

Currently Toyota is said to be considering work putting workers who normally clock 80 hours in a two-week period on a 72-hour schedule. Additionally, the company will add three to eight non-production days to its calendar running through April 30.

There will be no wage increases in the immediate future with bonuses for hourly workers reduced and those for North American salaried workers and executive eliminated.

The voluntary exit program will offer ten weeks pay, two weeks compensation for every year worked, and a lump payment of $20,000. Few employees, however, are expected to leave and Toyota has no target reduction level.

Mike Goss, Toyota spokesman, said, "We're trying our best to keep everyone employed. We feel that with the reduced work weeks and bonus eliminations, we're getting into the position we need to be in."