More bad news for the auto industry today as Honda has announced it will be slashing production and even more jobs. Due to weakening global sales, Japan’s number two automaker will be slashing 3,100 jobs and drastically reducing its domestic output.
Honda will cut a total of 3,100 temporary positions in Japan, representing its total staff of temporary employees. Honda recently reduced the number of its temporary workers by 1,200, according to CNN.
In addition to the job cuts, Honda also eliminated 56,000 vehicles from its Japanese production schedule. For its fiscal year ending March 31st, Honda plans on producing 1.168 million vehicles, down from an earlier forecast of 1.31 million units.
Despite Honda’s economical lineup, its global sales continue to slip. U.S. sales were down double-digits in December, with January’s results expected to be just as bleak.
