TOKYO -- Ailing Japanese auto parts supplier Akebono Brake Industry will shut down or sell six factories and eliminate about 3,000 jobs, or 30% of its global staff, under a restructuring plan presented to creditors.
The company, which is set to receive a 20 billion yen ($185 million) bailout from a Japanese rescue fund, will also see its three top executives exit in the fall as it seeks to put together a viable turnaround plan that includes debt forgiveness from lenders.
