Japan Tobacco Says It Has No Plans to Cut Local Production Jobs

Source from:  By Fergus Maguire Oct. 17 (Bloomberg) 10/20/2008

Japan Tobacco Inc., the world's third-largest publicly traded cigarette maker, said it has no plans to reduce domestic production jobs after the Nikkei newspaper reported 500 positions would be cut over three years. The Tokyo-based company plans to spend about 10 billion yen to 20 billion yen ($197 million) annually to increase production efficiency, spokeswoman Yukiko Seto said by telephone today. The company will cut its domestic cigarette production workforce by 30 percent over the next three years, the Nikkei newspaper said today. To contact the reporter on this story: Fergus Maguire in Tokyo at fmaguire@bloomberg.net Enditem