Mitsubishi to Cut Worldwide Work Force 11%

Struggling Mitsubishi Motors Corp. plans to slash its global work force by 11%, or 9,900 workers, by March 2004. News of the move comes on the heels of several other cost-cutting plans by corporate Japan. Earlier this month, Nissan Motor Co., now 37% owned by France’s Renault, announced a widespread “revival plan,” including trimming 21,000 employees worldwide, or about 14% of its work force. Mitsubishi and Nissan have promised not to resort to layoffs. Mitsubishi said it will rely mostly on attrition, including hiring fewer people and encouraging early retirement. It did not specify which types of jobs will be cut, or where.