JAPAN: Sock Maker Atsugi To Axe Plants, Cut Jobs
Japanese sock and pantyhose manufacturer Atsugi Co has announced plans to axe eight of its factories in Japan as part of its new policy of shifting production overseas. The company said it will close the plants in the Tohoku and Kyushu regions by March 2004 and their axing will lead to the loss of around 250 jobs - about a third of its workforce.