A large foreign car company is cutting hundreds of automotive jobs in Illinois.
Mitsubishi Motors, which is based in Japan, is planning to cut 300 Illinois jobs as the company plans to slip into the red during the current financial year because of weak sales and a strong yen. The company announced in November that it would cut 1,100 jobs by laying off one third of its temporary domestic workforce, according to an article by Google News.
The company’s plant in Illinois currently employs 1,600 workers, but that number will be reduced to 1,300 after the job cuts, some of which will come from voluntary retirements. Mitsubishi also is considering cutting production capacity at a Russian plant it’s building with PSA Peugeot-Citroen from the originally-estimated 160,000 vehicles per year.