Mitsubishi Heavy To Cut 5,000 Jobs, Forecasts Net Loss

Tuesday, September 28, 1999
Mitsubishi Heavy Industries Ltd. announced it will cut its work force by 5,000 under a new business plan to be drawn up by the end of October. Under the staff-reduction plan, the company plans to cut its total work force to 35,000 from the current 40,000 by the end of 2003-04. The company will reportedly focus more on energy-related business, including gas turbines and fuel cells, and seek to further expand cooperation with Boeing Co. and Airbus Industries in the aviation business. Mitsubishi Heavy also announced that the company is expecting a group net loss of $500 million for the year to March 2000, against a May forecast of nil profit and an actual net profit of $170 million a year ago.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Brazilian Police to Probe Nuclear Submarine Program

Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Eastern Launches Second MPSV for Hornbeck

Eastern Shipbuilding Group, Inc. has launched the second of two 302’x76’x26’ multipurpose service vessels in the HOSMPSV 310ES series for Hornbeck Offshore Services, LLC.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1466 sec (7 req/sec)