TOKYO Nov 8, 2005 — Fuji Heavy, the Japanese maker of Subaru cars that recently ended its alliance with General Motors, said Tuesday it plans to cut up to 700 jobs to boost flagging profits.

The job cuts, planned for this year, comprise 5 percent of Fuji Heavy Industries Ltd.'s 14,000-member work force, who are mostly in Japan. Fuji Heavy also has a plant in Lafayette, Ind., but Tuesday's job cuts won't apply to them, a company spokesman said on condition of anonymity.

The job cuts will be the first since the Tokyo-based manufacturer was founded in 1953, he said. The move will be achieved through voluntary retirement, and will save 7 billion yen ($59.5 million) in costs a year, according to the company.

More: http://abcnews.go.com/Business/wireStory?i...TC-RSSFeeds0312

So Toyota has a stake in them for like 5 seconds, and they are already dumping 700 (out of 14,000) employees? Good thing (for the US employees) that it's only in Japan......for now.

LMFAO. How many employees has GM cut during the past 2 years?

Edited November 9, 200520 yr by sciguy_0504

it says they will lay off 5% thorugh voluntary retirement. This means, all the old workers, sorry, early retirement.