Business Nissan to cut thousands of jobs worldwide

Nissan to cut thousands of jobs worldwide

Nissan to cut thousands of jobs worldwide

friday, 22.05.2020

Nissan has global production capacities of more than 7 million units per year, but only manufactured 5 million in 2019. (Keystone)

Japanese automaker Nissan, in dire straits, is expected to announce several thousand additional job cuts worldwide as part of the recovery plan it plans to unveil next Thursday, Japanese news agency Kyodo News said on Friday.

Nissan had already announced last summer its intention to cut 12,500 jobs by March 2023, or about 10% of its global workforce, to reduce its production capacity by then.

These cuts should now be brought to 20,000 jobs, or 15% of the group’s total workforce, according to sources close to the file interviewed by Kyodo.
Asked by AFP, a Nissan spokeswoman declined to comment on “speculation”.

A source close to the manufacturer, however, recognized with AFP that the previous restructuring plan launched in 2019 was “clearly” no longer sufficient in the face of the severe aggravation of the crisis in the world automobile market since the coronavirus pandemic.

The new management of Nissan “has already clearly said that it was necessary to reduce fixed costs, in all directions” and refocus on “realistic ambitions”, according to this source.
Nissan has global production capacities of more than 7 million units per year, but only manufactured 5 million in 2019.

In Europe, its factory in Barcelona, ​​in overcapacity, appears particularly threatened, while its huge factory in Sunderland, in the north-east of England, should be spared.

The Renault-Nissan-Mitsubishi Motors alliance is due to present its new strategic plan on Wednesday, which aims to significantly strengthen synergies between the three manufacturers.
But Nissan is expected to save the details of its own turnaround plan for Thursday, where it will also release its 2019/20 annual results, which ended March 31.

In late April he said he expected a net loss of between 85 and 95 billion yen (up to 810 million euros at current prices), his first since 2008/2009.

In the aftermath of Nissan’s results, it will be up to French Renault, also in great difficulty, to decline its savings plan. Site closings in France are particularly feared. (Awp)

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