Mitsubishi Australia
Noria Takenhara, Mitsubishi Australia managing director announced that majority of the job losses would come from the management and administration staff. He further claimed that the 17 percent slouch in the domestic sales and the global overproduction are the principal reasons. Mitsubishi Australia is greatly affected in the rapid devaluation of the Australian dollar since the company imports many of its components. The Tokyo-based car manufacturer is also intent in slashing the salaries of the executives as part of their restructuring program. As part of their streamlining efforts, Mitsubishi Australia is also planning to close down its engine assembly plant in Lonsdale rendering 650 workers potentially jobless. This would undoubtedly result to more labor woes for the company. The manufacturing plant located at Tonsley Park had been struggling for several years now and lost A$ 186 million dollars when Chrysler joined the competition in the car industry. However, Mitsubishi Motors shrugs off reports about the rumor on the possibility of terminating its operations in the country. They are asserting that the restructuring process they are implementing is still part of their long-term growth plans. Apparently, Mitsubishi Motors is having a hard time keeping up with the tough competition ensued by other car manufacturers. The shocking drop in the company sales somehow became an early indication of a bleaker future. The company is in dire need to manufacture a new model that would hopefully inject fresh vitality and hopefully rake in sales for the next few years. Top executives of Mitsubishi Australia are probably crossing their fingers and fervently hoping they would be able to triumph against this crisis. |
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