Mitsubishi Motors Corp. said Monday it will cut some 9,500 jobs, or 14 percent of its group workforce, by 2003 and close down its key Oe plant in Nagoya as part of a major restructuring plan.
The plan, worked out in close consultation with its largest shareholder, German-U.S. auto giant DaimlerChrysler AG, aims to restore damaged consumer confidence in the scandal-hit automaker and turn around its loss-making operations, the company said.
"This turnaround plan will lead to sustainable growth and regain the trust of our customers," MMC President Takashi Sonobe said in a statement.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.