Nissan will cut 11,000 more jobs than it previously planned, bringing the total to 15% of its workforce
According to reporting by Japanese public broadcaster NHK, Nissan is planning to lay off an additional 11,000 employees.
The figure brings the total job cuts for the Altima maker to roughly 20,000, or 15% of its global workforce. In November, Nissan said it would eliminate 9,000 positions and cut production capacity by 20% globally.
The move is part of Nissan’s effort to drastically cut costs in order to compete with US and Chinese rivals amid poor sales in both countries. Earlier this year, the automaker was briefly in merger talks with Honda, but those discussions ultimately fell apart.
Nissan is expected to report its fiscal year 2024 earnings on Tuesday. Last month, the flailing automaker forecast a net loss of up to 750 billion yen, or more than $5 billion.
The move is part of Nissan’s effort to drastically cut costs in order to compete with US and Chinese rivals amid poor sales in both countries. Earlier this year, the automaker was briefly in merger talks with Honda, but those discussions ultimately fell apart.
Nissan is expected to report its fiscal year 2024 earnings on Tuesday. Last month, the flailing automaker forecast a net loss of up to 750 billion yen, or more than $5 billion.
