Marine Link
Wednesday, October 26, 2016

Mitsubishi Heavy To Cut 500 Shipyard Jobs

November 1, 1999

Mitsubishi Heavy Industries Ltd. plans to reduce its shipbuilding division's work force by 500 before March 2004. The division currently employs 4,500. The work force cut will come through natural attrition and curbing new recruitment at the division, according to a spokesman. Company officials plan to improve the shipbuilding sector's profitability by boosting sales of value-added passenger boats and liquefied natural gas (LNG) carriers. Japanese shipbuilders have seen a recent decrease in profitability on sales of VLCCs because of price competition with South Korean shipbuilders.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News