TOKYO, May 13 — Japanese automaker Nissan Motor Co plans to cut around 20,000 jobs worldwide — more than double the number announced last November — as part of deeper restructuring efforts to revive its struggling business.
According to Kyodo news agency, the planned reduction represents about 15 per cent of Nissan’s global workforce and comes ahead of its full-year earnings report for fiscal 2024, due today.
Market watchers are examining the impact of US President Donald Trump’s increased auto tariffs on automakers' performance.
The company is also considering shuttering one of its five domestic vehicle assembly plants in Japan, amid efforts to streamline production capacity and address declining sales.
Such a move, however, is expected to face strong resistance from labour unions and other stakeholders.
In November last year, Nissan had unveiled plans to eliminate 9,000 jobs and cut global production capacity by 20 per cent by fiscal 2026, in response to weak performance in the US and Chinese markets.
In February, it announced the closure of a plant in Thailand and two other unidentified factories.
The latest round of restructuring coincides with a review of the company’s investment strategy under newly appointed CEO Ivan Espinosa, who took the helm on April 1.
— Bernama-Kyodo
