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Nissan Plans To lay Off An Additional 10,000 Workers
Japanese carmaker Nissan plans to cut an additional 10,000 jobs after already announcing in November that it would cut 9,000, the French agency AFP reports.
According to Japan’s NHK, Nissan is expected to cut its workforce by a total of about 20,000, representing 15 percent of its workforce.
The carmaker is not commenting on the news of additional staff layoffs, AFP reports.
Nissan warned last month that its loss for the past fiscal year was likely to be a record, estimated at between 700 billion and 750 billion yen (between 4.25 billion and 4.56 billion euros). The automaker is due to report its results on Tuesday.
The company, which is among the top 10 automakers by vehicle sales, is deeply in debt and restructuring. Like many others, Nissan is struggling with competition from Chinese manufacturers, and its business is further threatened by US tariffs, according to AFP.
They saw salvation in a merger with Honda, but negotiations collapsed in February after Honda proposed that Nissan become its subsidiary.
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