Mitsubishi to Fire 22 Employees, Close Offices

Mitsubishi Motor Sales of America Inc. said that it will dismiss 22 employees, including three vice presidents, and eliminate about 50 other positions through attrition as it attempts to return its U.S. operations to profitability. The layoffs and payroll trimming were ordered by the Cypress-based company’s executive committee as it continues a reorganization begun six months ago. Mitsubishi, the No. 5 Japanese car company in the U.S., has been losing market share for nearly a year and has lost almost $1 billion on its U.S. operations since 1996, according to the trade journal Automotive News. The company said it will close five regional offices of a subsidiary, Mitsubishi Motors Credit of America, by next summer, moving some operations to other sales offices and centralizing others at corporate headquarters in Cypress. The credit company will lose 40 positions, 15 through layoffs, and the sales operation will lose 30 posts, seven through layoffs, a spokesman said.