CANBERRA – Mitsubishi Motors Australia Ltd. cuts annual production of its new 380 large sedan by 15.6% and announces 250 job cuts. The annual output target for the 380 – the new car that was to revive the company’s fortunes – now is 27,000 units, down from 32,000. The 250 job cuts, preferably through voluntary redundancies, will reduce the auto maker’s Adelaide workforce to about 1,700 by March. Following an extended Christmas break, Mitsubishi also plans a weeklong furlough before ...

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