Mitsubishi Motors to Cut Production, Jobs

Mitsubishi Motors Corp. said it would cut its U.S. production and slash 1,200 jobs to reduce losses.

Japan’s fourth-largest automaker said it would cut jobs at its sole U.S. assembly plant in Normal, Ill., and cut capacity in the plant by 22%.

The plant employs 3,150 workers.

Mitsubishi is struggling to rebuild itself after its partner DaimlerChrysler abandoned plans to rescue it this year.

Mitsubishi’s revenue has plummeted recently after a series of vehicle defect cover-ups and its U.S. sales in June fell 48% from a year earlier.