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Nissan Job Cuts: 1,700 in India, 1,400 in U.S.
The 25,000 jobs Nissan Motor Co. plans to eliminate 1,700 jobs in India and 1,420 in the U.S., The Nikkei reports.
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The 25,000 jobs Nissan Motor Co. plans to eliminate 1,700 jobs in India and 1,420 in the U.S., The Nikkei reports.
Those two countries will bear the largest cuts in the initial round of 6,400 dismissals, according to the newspaper. It says other first-round targets are Mexico (1,000 jobs), Indonesia (830), Japan (880), Spain (470) and the U.K. (90).
The cutbacks in India represents 4% of Nissan’s 40,000-member workforce there. The company controls less than 1% of the market in India, where it shares a factory with alliance partner Renault SA that can build 480,000 vehicles per year.
Nissan’s restructuring plan will reduce annual capacity by 600,000 units to 6.6 million units—17% more vehicles than it sold in the fiscal year ended March 31—through fiscal 2022, according to The Nikkei. The newspaper says the reductions will be spread across 14 assembly plants.
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