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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

SENER Debuts Latest FORAN Release

At  Sinaval-Eurofishing in Bilbao, Spain, Sener will present enhancements in the shipbuilding CAD/CAM system FORAN, in all disciplines (forms, naval architecture and general arrangement,

BHGI-designed ATB Unit Under Construction

Bristol Harbor Group, Inc. (BHGI) informs it is currently completing the detail design phase of a 399’ x 74’ x 30’ 80,000 BBL double hull oil tank barge and a 120’

Scorpio Bulkers Sells Three Newbuilds for $111m

Scorpio Bulkers Inc. announced that it has entered into agreements to sell three newbuild dry bulk vessels, including two Capesize ships and an Ultramax ship, for

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.1089 sec (9 req/sec)