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Nissan's Global Job Cuts
Nissan announces 9,000 job cuts globally due to falling sales in China and the US, impacting production and profits.
English
United Kingdom
Labour MarketAuto IndustryJob LossesFinancial CrisisGlobal MarketCompany Restructuring
NissanBbc NewsByd
Makoto UchidaMark Rainford
- What is Nissan's overall strategy despite the job cuts and reduced production?
- Despite the job cuts, Nissan maintains that it is not shrinking but rather restructuring to become more efficient. The company still plans to invest in electric vehicle production at its Sunderland plant.
- What is the main reason behind Nissan's decision to lay off thousands of workers?
- Nissan is cutting 9,000 jobs globally due to falling sales in China and the US, leading to a 20% reduction in global production and a 70% cut in operating profit forecasts for 2024.
- What actions have Nissan's leadership taken in response to the financial challenges?
- Nissan's CEO, Makoto Uchida, has taken a 50% pay cut, and other senior executives have also received pay reductions as part of the company's cost-cutting measures.
- What external factors are contributing to Nissan's declining sales and profitability?
- Increased competition in China, particularly from domestic electric vehicle (EV) manufacturers, and decreased sales in the US due to inflation and high interest rates have significantly impacted Nissan's performance.
- What measures is Nissan taking to restructure its business and improve its financial performance?
- The job cuts are a cost-saving measure as Nissan seeks to restructure its business and become more efficient and resilient in the face of declining sales and increased competition.