Mitsubishi set to announce major job losses

Mitsubishi Motors is expected to cut about 9,500 jobs as part of a global restructuring by its largest shareholder, the German-US carmaking giant DaimlerChrysler.

The move will mean the loss of 14% of Mitsubishi's workforce, lead to the closure of one of the Japanese company's four assembly plants and result in a 20% reduction in production capacity.