Nissan to cut 9,000 jobs and lower profit forecast
Kyiv • UNN
Nissan Motor has lowered its annual profit forecast from 500 billion yen to 150 billion yen due to the deteriorating situation in the US and China. The company plans to lay off 9,000 employees and reduce production capacity by 20%.
On Thursday, Nissan Motor announced a disappointing profit forecast. It is noted that the company has faced a sharp deterioration in the key markets of the United States and China.
Writes UNN with reference to Nikkei Asia.
Nissan Motor's annual operating profit for the fiscal year ending March 2025, as indicated in the report, will be 150 billion yen ($970 million). In the July-September quarter alone, the company posted a net loss of 9.3 billion yen, due to declining profitability in its key markets.
The previous annual forecast was 500 billion yen.
Faced with persistent problems in key markets, including China, Nissan Motor has announced significant job cuts, planning to lay off 9,000 employees, it has been reported today. The Japanese automaker also intends to reduce its global production capacity by 20%.
As someone who is responsible for the lives of more than 130,000 employees and their families around the world, I am clearly aware of my responsibility
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The Japanese company has a production capacity of nearly 5 million vehicles worldwide, and it expects to sell 3.4 million vehicles in the current fiscal year. To improve business in the U.S., he said Nissan plans to add new models.
