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Report: Nissan to Cut 10,000+ Jobs Worldwide
Nissan Motor Co. intends to eliminate more than 10,000 jobs in an effort to improve its sagging profits, company sources tell Kyodo News.
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Nissan Motor Co. intends to eliminate more than 10,000 jobs in an effort to improve its sagging profits, company sources tell Kyodo News.
The cuts will be in addition to 4,800 positions already being dropped in an initiative announced in May. Nissan will detail the new plan on Thursday, according to Kyodo. The news service says the plan will focus on low-profit regions, such as South America.
Nissan’s operating profit plunged 45% in the fiscal year ended March 31, and the company predicts an additional 60% drop in the current 12-month period.
The carmaker’s operating margin, which shrank from 4.8% in fiscal 2017, fell to 2.7% in fiscal 2018. Nissan expects its margin will slide to 2% this year.
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