Nissan cuts 15% of global work force as Japan automaker sinks into losses

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Nissan cuts 15% of global work force as Japan automaker sinks into losses - Business Standard

Quick Summary:

Nissan is slashing about 15 per cent of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss for the fiscal year that just ended amid slipping vehicle sales in China and other nations.

Nissan is aiming to reduce its costs by 250 billion Yen (USD 1.7 billion) during the next fiscal year compared to the fiscal 2024 results that just ended in March.

Nissan Motor Corp said it will reduce the number of its auto plants to 10 from 17, under what it called its recovery plan to carry out decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes.