Nissan Plans to Cut Over 10,000 Jobs Globally: Source

By Reuters
July 24, 2019Business News
Nissan Plans to Cut Over 10,000 Jobs Globally: Source
A Nissan logo is pictured during the media day for the Shanghai auto show in Shanghai, China, on April 16, 2019. (Aly Song/Reuters)

TOKYO—Nissan is planning to cut more than 10,000 jobs globally to help turn around its business, a source said on July 23, showing a tough road ahead for the automaker which is also reeling from the ouster of former Chairman Carlos Ghosn.

Former Nissan Motor Chairman Carlos Ghosn
Former Nissan Motor Chairman Carlos Ghosn leaves his lawyer’s office in Tokyo, Japan on April 3, 2019. (Kyodo/via Reuters)

The cuts include the 4,800 already announced in May, and will mostly be at factories overseas with low utilization rates, said the person familiar with the matter, adding that the move would be announced along with financial results on Thursday.

The move was first reported by Kyodo late on Tuesday. Nissan told Reuters it had no comment.

In May, Nissan forecast a 28% plunge in its annual operating profit after a 45% fall in the previous year, putting it on course for the weakest earnings in 11 years.

Nissan Rogue Sport
2017 Nissan Rogue Sport. (Courtesy of Nissan Newsroom)

The Renault-Nissan alliance has been under strain since the arrest and ousting of Ghosn late last year on charges of financial misconduct.

By Maki Shiraki and Naomi Tajitsu

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