Mitsubishi Motors Corp's MMTOF MMTOY joint venture with China-based Guangzhou Automobile Group Co., Ltd. GNZUF is reportedly planning to slash staff costs following sharp sales declines for sport utility vehicles (SUV).
Guangzhou Automobile is focussing on optimizing its employment to transform the venture, Reuters reported.
The joint venture, GAC Mitsubishi Motors, was founded on September 25, 2012.
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However, the report noted that the number of employees affected by the move had not been disclosed.
The report added that the restructuring will be done following laws and regulations in China.
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