Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

ENCORE!

Haute Couture: the hand-stitched clothing made in Paris that sells for the price of small yachts

Read more

  • Putin revives old Cuban flame and eyes Latin American minerals

    Read more

  • Kerry holds all-night talks with Afghan presidential rivals

    Read more

  • Netanyahu resists international pressure to stop air strikes on Gaza

    Read more

  • Ukraine promises retaliation after rebel assault

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Cleveland's NBA fans hail 'return of king' LeBron James

    Read more

  • Exclusive: an unlikely victim of the 'War on Terror'

    Read more

  • Magnitude 6.8 quake, small tsunami hit east Japan

    Read more

  • The third-place playoff: the World Cup game no one wants to play

    Read more

  • Suspect in Brussels Jewish Museum shooting drops extradition appeal

    Read more

  • Kurdish forces take over two oilfields in northern Iraq

    Read more

  • Are French high school students getting smarter?

    Read more

  • Italy’s Trentin wins seventh stage of Tour de France

    Read more

  • Disgraced Suarez leaves Liverpool for Barcelona

    Read more

  • In pictures: Chanel, Dior and so much more at the Paris couture shows

    Read more

Business

Honda to cut 3,100 jobs

©

Latest update : 2009-01-16

Honda, Japan's second-largest carmaker, announced that it will not renew the contracts of 3,100 employees in an effort to cut costs as global demand for cars falls.

AFP - Japan's Honda Motor Co. said Friday it was cutting more than 3,000 jobs at home and reducing domestic production because of a slump in demand due to the economic downturn.
  
The country's number two automaker will reduce its output by 56,000 vehicles for the rest of the financial year to March, lowering domestic production to 1.168 million vehicles, down 10 percent from the previous year.
  
Honda said it would not renew contracts with 3,100 temporary workers in Japan by the end of April.
  
The latest cutbacks are in response to "a rapid change in the global market environment," the company said in a statement.
  
In December, Honda had already said it planned to cut domestic production by 54,000 cars and would hold off on the release in Japan of the Acura luxury brand, which was planned for 2010.
  
Honda last month cut its full-year net profit forecast by more than half due to a soaring yen and the global economic slowdown. It also announced its shock pullout from Formula One because of financial difficulties.
  
Japanese manufacturers have expanded rapidly in recent years to meet brisk demand for their smaller, fuel-efficient cars, but they have not been immune to the economic downturn. Other makers including Toyota and Nissan are also cutting jobs and production.

Date created : 2009-01-16

Comments

COMMENT(S)