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Nissan may cut more than 20 000 jobs, Kyodo says

As Covid-19 lockdowns force factories and showrooms to close.
Image: Moneyweb

Nissan Motor Company is planning to cut more than 20 000 jobs across the world, as the Japanese carmaker grapples with closed factories and showrooms amid the coronavirus pandemic, Kyodo News reported.

The coronavirus pandemic is hurting demand for automobiles and driving the need to cut production, the Japanese news agency reported. The job cuts are part of a mid-term restructuring plan that Nissan is due to unveil on May 28, Kyodo said.

Nissan is planning to cut about 300 billion yen ($2.8 billion) in annual fixed costs and book restructuring charges as the coronavirus pandemic further depresses the carmaker’s sales, a person with knowledge of the measures said last week.

© 2020 Bloomberg

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The person with ‘knowledge’, did he tell you that Nissan had problems long before Corona19 came on the scene?

This is the final nail in the coffin

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