Sumitomo Metal to Cut 3,000 Employees: Integrated steelmaker Sumitomo Metal Industries Ltd. said it will reduce its work force by 3,000 over three years. The cutbacks will be made in steel-related divisions and will encompass 2,200 factory workers and 800 administrative workers, the company said. Sumitomo Metal had 20,727 workers as of Sept. 30. NKK Corp., another leading Japanese steelmaker, announced earlier this week that it will cut 3,200 jobs--or nearly 15% of its work force--by the end of 1995.
From Times Staff and Wire Reports