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Cut - Japan - Subaru maker to cut 5 percent of work force
TOKYO,Japan -Nihon Keizai/Reuters -Nov 07, 2005: -- Fuji Heavy Industries Ltd. plans to cut 5 percent of its work force, or 700 employees, by next March in an effort to turn itself around, a business daily reported on Monday... The maker of the Subaru brand, which has about 14,000 workers, will launch its first voluntary retirement program by the end of this month, aiming to slash annual personnel costs by 5 billion yen ($42 million), the paper said... The job reductions will be the company's first since it was established in 1953, the paper said...
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