South Korean media: "the largest scale in history", Nissan to cut 20,000 jobs!
On May 13, South Korean media "The Korea Herald" published an article stating that Nissan, which is in an operating dilemma, has entered a global restructuring.
Due to continuously poor performance, Nissan has decided to cut another 11,000 employees on top of the previously announced plan to lay off 9,000 employees, resulting in a total of 20,000 job cuts, accounting for approximately 15% of the total workforce. This is the largest personnel adjustment in the company's history since its establishment.
The "Asahi Shimbun" analyzed the deterioration of Nissan's business situation, stating that "in its main market, the U.S., brand value has declined and new model launches have been unsuccessful. In China, due to competition from electric vehicles, sales have also decreased."
In fact, in the fiscal year 2017 (April 2017 to March 2018), Nissan sold 5.77 million vehicles, but in the fiscal year 2024 (April 2024 to March 2025), sales plummeted to 3.3 million vehicles.
Previously, Nissan stated that it expected a deficit of approximately 750 billion yen (about 36.5 billion RMB) in 2024, which is the largest deficit since the operational crisis in 1999.
Nissan had already reduced global production capacity by 20% last November, closed three overseas factories including those in Thailand, and canceled the plan to build an electric vehicle battery factory in Kitakyushu, Japan.
Although cost-cutting measures were implemented, the gap between sales performance and production capacity remains significant. Therefore, in order to rebuild, a large-scale layoffs are expected to be necessary.
Source: https://www.toutiao.com/article/1832007832515592/
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