Mitsubishi axing 6,000 jobs

Japanese vehicle maker Mitsubishi is to cut about 6,200 jobs from its global work force and receive €3.4bn in funding from the Mitsubishi group and other investors in a revival plan, the company said in Tokyo.

Under the plan, Mitsubishi Motors will keep its US plant in Illinois open and will target an overall sales increase over the next three years, the company said in a statement.