Japanese Car manufacturers cut production/jobs

[VenSeattle]

Mitsubishi Motors to cut production as sales slow
November 27, 2008
Link to article

MITSUBISHI Motors today said it would lay off one-third of its temporary workers in Japan as sagging sales led it to reduce production.

Japan's fourth-biggest carmaker said it would not renew contracts with the 1100 workers when those employment agreements expired at the end of next March.

“We are adjusting production in order to reduce inventory stockpiles in view of the recent economic and market conditions,” a company statement said.

In addition to cutting production by 80,000 vehicles, which Mitsubishi said it would do in October, the company today said output would be further reduced by 30,000 vehicles.

Other manufacturers are also shedding temporary workers.

Toyota Motor Corp has said it plans to axe 3000 jobs - half of its temporary workforce in Japan.

Nissan Motor, Japan's third-biggest vehicle-maker, is shedding 3500 jobs worldwide, while Mazda is scrapping 1300 temporary jobs and truck-maker Isuzu is axing 1400 domestic posts.

Japanese carmakers have expanded rapidly in recent years to meet brisk demand for their vehicles, but they have not been immune to the global economic downturn, even if they are in much better shape than their US rivals.

AFP

[Intrepidation]

R U 4 Real?! I thought only the terrible American automakers were doing poorly because they make vehicles no one wants that get .03 mpgs.

THIS IS SHOCK

[FUTURE_OF_GM]

Bu...But... This is the BLOSSOMING INDUSTRY that will move in and replace GM, Ford and Chrysler when we allow those greedy, corrupt, outdated organizations to fail.

?!?!

I hate to be this way, but part of me hopes that Detroit doesn't get the bridge loans, just for the sheer fact of vengeance.

Edited December 1, 2008 by FUTURE_OF_GM

[A Horse With No Name]

It's going to be a very rough 2009 for the whole industry.

Chris

[A Horse With No Name]

Actually, even astin-martin is cutting production...

http://news.yahoo.com/s/ap/20081201/ap_on_..._aston_martin_2

Chris/66

[Satty]

We've been in a worldwide economic slowdown for some time, this isn't surprising. The only shock is that Mitsu isn't cutting 3/3 of their workforce.