Two product litigation attorneys and a quality control executive are among those forced out.
Modest government stimulus was seen as a signal authorities want to steady growth.
Toyota recalled more than 10M vehicles over issues with brakes, accelerator pedals and floor mats.
German carmaker Volkswagen expects to sell more than 10 million vehicles across its multi-brand group this year.
About 2,500 jobs are set to be lost as a result of Toyota's decision, which it attributed to high manufacturing costs.
Toyota is forecasting record annual operating profits as the weaker yen helps to boost sales abroad.
A recovery in the global car market boosts Volkswagen's luxury brands - Porsche, Audi and Bentley - sales.
Will add Phillips Specialty Products to its Lubrizol specialty chemicals business.
U.K. police look into concerns raised a year ago of possible bribery and corruption in China and Indonesia.
Brings total orders from Emirates alone for the world's largest jetliner to 140 aircraft.
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