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Japanese car manufacturer Honda announced its intention to close the plant, located in the province of Kocaeli in Turkey, Tass reports. The plant, which produces 38 thousand Civic sedans per year, and the staff of which accounts for approximately 1 thousand 100 people, will stop working from 2021. Honda said in a statement that the company had revised its global development strategy, taking into account plans for the production of electric vehicles, the share of which in the global market is rapidly increasing. These plans require additional resources by reducing costs. Therefore, the company decided to stop production at the Turkish factory, but to maintain its dealer network in Turkey. As previously reported, Honda will also close its plant in Swindon in the UK, the only one in the EU, in 2021.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would ...
The western Japan prefecture may take two more years to recuperate from the damage of the novel coronavirus crisis. The forecast was rendered by Tetsuya Kan, head of a major regional bank in Osaka, as the pandemic ransacked the city’s ...
American Airlines Group Inc. stated on Wednesday that it plans to cut 30% of its management and support staff or almost 5,000 jobs because of the coronavirus outbreak. American and other airlines are scrambling to cut costs because of the ...
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