Date
23 August 2019
Nissan forecast a 28 percent plunge in its annual operating profit after a 45 percent fall in the previous year. Photo: AFP
Nissan forecast a 28 percent plunge in its annual operating profit after a 45 percent fall in the previous year. Photo: AFP

Nissan plans to cut over 10,000 jobs globally: report

Nissan Motor Co. Ltd. is planning to cut more than 10,000 jobs globally to help turn around its business, Reuters reports, citing a source.

The cuts include the 4,800 already announced in May, and will mostly be at factories overseas with low utilization rates, said the person familiar with the matter, adding that the move would be announced along with financial results on Thursday.

The move was first reported by Kyodo late on Tuesday. Nissan told Reuters it had no comment.

In May, Nissan forecast a 28 percent plunge in its annual operating profit after a 45 percent fall in the previous year, putting it on course for the weakest earnings in 11 years.

The Renault-Nissan alliance has been under strain since the arrest and ouster of former chairman Carlos Ghosn late last year on charges of financial misconduct.

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CG

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