Nissan to Cut Over 10,000 More Jobs Globally, Aiming for Leaner Business

Nissan's Global Job Reductions

• 📉 Nissan is reportedly planning to cut over 10,000 more jobs globally, according to NHK.
• 🎯 This brings the total planned layoffs to approximately 20,000, representing about 15% of its workforce.

Financial Struggles and Projected Losses

• ⚠️ The automaker is expected to report a record net loss for the financial year ending March, potentially exceeding 5 billion.
• 📊 This projected loss is attributed to impairment charges.
• 🗓️ Nissan is scheduled to announce its full financial results on Tuesday.

Strategic Business Adjustments

• ⚙️ The company aims to create a leaner and more resilient business following a period of poor performance.
• 🇺🇸 Performance in the crucial US market suffered due to a lack of hybrid models and an aging vehicle lineup.
• 🇨🇳 Nissan is also facing challenges in China, with plans to introduce around 10 new vehicles to combat a significant sales decline.
• 🏭 Previous restructuring plans included cutting 9,000 jobs and reducing global capacity by 20%.
• 📉 The company has revised its profit outlook downwards four times for the recently concluded financial year.