We are considering to impose a single standard code format in our project (auto format with save actions in Eclipse). The reason is that currently there is a big difference in the code formats used by several (>10) developers which makes it harder for one developer to work on the code of another developer. The same Java file sometimes uses 3 different formats.

So I believe the advantage is clear (readability => productivity) but would it be a good idea to impose this? And if not, why?

UPDATE
We all use Eclipse and everyone is aware of the plan. There already is a code format used by most but it is not enforced since some prefer to stick to their own code format. Because of the above reasons some would prefer to enforce it.