Japan: Mazda Cutbacks

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CBC

Mon Feb 26, 12:12 pm

Mazda Cutbacks

Mazda Motor is cutting nearly ten-percent of its workforce by the end of March. The "Wall Street Journal" reports the Japanese automaker said the special retirement package cutbacks won't affect the company's earnings estimates. Mazda is attempting to scale back its swelled clerical and sales staff. Last year Mazda had intended to recruit early retirees from among ten-thousand clerical and sales staff aged 30 and older in order to cut 18-hundred jobs. The company said it closed the retirement package offer on the first day of the offering period, since over 22-hundred applicants signed up for the early retirement package.

-- Rachel Gibson (rgibson@hotmail.com), February 26, 2001


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