NHK reports that Nissan is planning to cut over 10,000 more jobs as part of its ongoing restructuring efforts. The Japanese automaker is responding to weak sales in key markets such as China and the United States. Nissan has already announced plans to reduce its workforce by 9,000 jobs and decrease global capacity by 20%.
The company, which had over 133,000 employees as of March last year, is also considering closing plants, including one in Thailand by June and two others yet to be identified. Recently, Nissan decided against building a $1.1 billion EV battery factory in Kyushu, Japan, where it had been set to receive government subsidies.
Last month, CEO Ivan Espinosa took over from Makoto Uchida and has emphasized the need for additional measures to improve Nissan’s performance. The company’s financial struggles were highlighted by a warning of a record net loss of 700 billion to 750 billion yen for the business year ending in March due to impairment charges.
— new from Reuters