Mazda to Idle Plants

Jan. 19, 2009

Will also cut salaries

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.

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