Nissan to cut over 10,000 more jobs globally, NHK reports

Nissan to cut over 10,000 more jobs globally, NHK reports


A brand new Nissan car is displayed on the sales lot at Golden State Nissan on March 26, 2025 in Colma, California. 

Justin Sullivan | Getty Images

Nissan Motor will additionally slash more than 10,000 jobs globally, bringing the total cuts including previously announced layoffs to about 20,000 or 15% of its workforce, Japan’s public broadcaster NHK reported on Monday.

The struggling Japanese automaker warned last month it would likely book a record 700 billion yen to 750 billion yen ($4.74 billion-$5.08 billion) net loss in the financial year that ended in March due to impairment charges.

Japan’s third-biggest automaker is set to announce its full-year results on Tuesday.

It declined to comment on the report.

Nissan is looking to make its business leaner and more resilient after doing poorly in its top market the United States, where its performance suffered heavily from a lack of hybrids and an ageing line-up.

It is also struggling in China, where it is looking to stop a punishing sales slide with the launch of some 10 new vehicles in the coming years.

Nissan, which had more than 133,000 employees as of March last year, had already been looking to slash 9,000 jobs and reduce global capacity by 20% as part of its restructuring plans.

Its weak performance forced it to cut its profit outlook four times for the financial year that just ended.



Source

Trump pushes for 15-20% minimum tariffs on European Union: FT
World

Trump pushes for 15-20% minimum tariffs on European Union: FT

US President Donald Trump speaks during a meeting with Bahraini Crown Prince Salman bin Hamad al-Khalifa in the Oval Office of the White House in Washington, DC, on July 16, 2025. Andrew Caballero-Reynolds | AFP | Getty Images U.S. President Donald Trump is demanding a minimum of 15-20% tariffs on imports from the European Union, […]

Read More
Meta says it won’t sign Europe AI agreement, calling it an overreach that will stunt growth
World

Meta says it won’t sign Europe AI agreement, calling it an overreach that will stunt growth

Jakub Porzycki | Nurphoto | Getty Images Meta Platforms declined to sign the European Union’s artificial intelligence code of practice because it is an overreach that will “stunt” companies, according to global affairs chief Joel Kaplan. “Europe is heading down the wrong path on AI,” Kaplan wrote in a post on LinkedIn Friday. “This code […]

Read More
Saudi Arabia reckons with its costly megaprojects as 0 billion ‘The Line’ is reviewed
World

Saudi Arabia reckons with its costly megaprojects as $500 billion ‘The Line’ is reviewed

Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM DUBAI, United Arab Emirates — Saudi Arabia’s sovereign wealth fund is reassessing its flagship $500 billion futuristic city called The Line. The public investment fund has tapped consulting firms to conduct a strategic review into the feasibility of the 105-mile linear city, […]

Read More