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1y ago

Nissan Increases Job Cuts in Effort to Revive Business Amid Financial Woes

Nissan announces an additional 11,000 job cuts, totaling 20,000 jobs, as it restructures amid financial losses and declining sales in key markets.

Nissan increases job cuts to 20K by 2027
Fox BusinessFox Business

Nissan increases job cuts to 20K by 2027

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Fox Business
Nissan more than doubles layoffs to around 20,000 | Business
CNNCNN

Nissan more than doubles layoffs to around 20,000 | Business

CNN
Nissan to shut seven factories, cutting 20,000 jobs worldwide
The GuardianThe Guardian

Nissan to shut seven factories, cutting 20,000 jobs worldwide

The Guardian
Nissan to cut 11,000 more jobs and shut seven factories
BBC NewsBBC News

Nissan to cut 11,000 more jobs and shut seven factories

BBC News

Overview

A summary of the key points of this story verified across multiple sources.

Nissan is cutting an additional 11,000 jobs, bringing total layoffs to 20,000 as part of its "Re-Nissan" recovery plan. The automaker's operating profit fell 88% last year to 69.8 billion yen ($472 million), leading to these drastic measures, including closing seven factories and reducing its manufacturing plants from 17 to 10. CEO Ivan Espinosa emphasizes profit over volume, noting the necessity for rapid self-improvement amid challenges from U.S. tariffs and competition from Chinese EV makers. The restructuring aims for savings of 500 billion yen ($3.4 billion) and a reassessment of targets going forward.

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