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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan's Mitsubishi Motors to join downsizing trend: reports AFP - 1 hour 40 minutes ago TOKYO (AFP) - - Mitsubishi Motors Corp. will join other major Japanese carmakers in making further cuts to production and jobs to cope with the global economic downturn, press reports said Saturday. The number-four Japanese carmaker is considering reducing its output in the business year to March 2009 by about 120,000 units, Jiji Press reported. In late October, Mitsubishi had revised downward its annual sales estimate by 81,000 to 1,228,000 units and subsequently cut the production target by 80,000 units as the global sales slump spread to emerging markets. In line with the further cutback in output, Mitsubishi is expected to end contracts with 1,000 temporary employees at its five group plants at home, Jiji and Kyodo News reported. There are currently 3,350 temporary workers at the plants. Other Japanese carmakers have announced downsizing plans in the past week. The industry leader, Toyota Motor Corp., said it planned to halve its temporary workforce to 3,000 jobs in the year to March 2009. Honda, the country's number-two carmaker, said it would cut its production in the business year by 79,000 vehicles from an earlier target to cope with falling sales. It expects to produce 1.278 million units at its domestic plants in the year, down one percent from last year. Mazda, Japan's fifth largest carmaker, also said it would scrap 1,300 temporary jobs, while Isuzu said it would axe 1,400 domestic posts. Nissan Motor, ranked third at home, decided to cut production and axe 3,500 jobs worldwide. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Reports: Nokia to start mobile service in JapanAP - 51 minutes ago CORRECTED - UPDATE 1-Supplier woes won't hurt Arcandor's Christmas salesReuters - 1 hour 11 minutes ago Japan's Mitsubishi Motors to join downsizing trend: reportsAFP - 1 hour 40 minutes ago Indian shares to be among first to recover-regulatorReuters - 2 hours 30 minutes ago Reports: Nomura Holdings may hunt for new capitalAP - Sunday, November 23 Enlarge Photo Japan's Mitsubishi Motors to join downsizing trend: reports Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed New strain of deadly Ebola virus discovered Aussie mayor wins sexist 'award' for inviting ugly women to town Wall Street plunges again as panic spreads Somali pirates demand 25 million dollars for Saudi oil tanker Oil prices slump under $50 per barrel View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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