Automakers’ woes continue as Toyota Motor Corp. announced it is further cutting North American production, lowering executives’ compensation and offering buyouts to about 18,000 workers.

Nissan announced a major workforce reduction this week, while Chrysler LLC is working on a Feb. 17 progress report for the government, which plans for annual U.S. auto sales to be around 10 million for four years. The industry average over the decade has been about 16 million in car sales annually.

Toyota said it will cut production days at some of its U.S. factories in April and institute a shorter work week, the Associated Press reported. It also is offering its first North American-wide buyout, which will consist of 10 weeks pay, plus two weeks pay for every year of service and $20,000. In addition, executives will have their salary cut 5 percent and bonuses eliminated, affecting about 10 percent of Toyota’s 30,000 manufacturing jobs in North America.

Japan-based Nissan Motor Co. also announced Monday it would reduce its workforce by 20,000 worldwide, or 8.5 percent, by March 2010.

Meanwhile, Chrysler is working on its plans to show the U.S. Treasury it can remain viable in exchange for the $4 billion in loans it received from the government, Bloomberg reported.

The company is in the process of reducing its fixed costs by more than $3.8 billion from when Cerberus Capital Management LP purchased it in August 2007. It is in discussions with the United Auto Workers union on concessions, such as ending a program that paid union workers even when there was no work for them. Chrysler also is working with its secured lenders in swapping debt for ownership in the company.