Editor/Reporter - CheersandGears.com
March 12, 2012
Mazda will be shrinking its U.S. workforce as a way to stay afloat financially.
Mazda is "in the midst of an extremely challenging business environment. It has become necessary for us to reexamine our business to accelerate further cost improvement," said Jim O'Sullivan, CEO of Mazda North American Operations in a memo sent to employees.
The plan, slated to start this month and last for five months will begin with the company offering voluntary buyouts to employees. Then, Mazda will layoff employees who didn't take part in the buyouts and then begin a restructuring process.