Mazda Motor said Jan. 19 it would cut its managers' monthly salaries by up to 10% and reduce operations at its key domestic plants in a bid to cope with the financial crisis.
Mazda will halt its two domestic plants in western Japan on Fridays in February and March, the latest in a series of cutbacks by Japanese automakers and their foreign rivals amid weak auto demand worldwide.
Mazda, Japan's fifth-largest carmaker, has already reduced the monthly salaries of its executives by 20% from December. It has also announced 1,500 job cuts and slashed its production target for this financial year.
Copyright Agence France-Presse, 2009