Simplify the following text for a Grade 10 native English-speaking person.
Original: However , due to the recent economic problems and the slowing car sales , Toyota announced that production would be cut by 50 % to 75,000 a year and the work force shrunk 40 % to 1200 people .
Simplified: However , due to economic problems and slowing car sales , Toyota cut production by 50 % to 75,000 a year and reduced the work force 40 % to 1200 people .