Photo: Nissan
Japanese automaker Nissan has announced the dismissal of another 11,000 employees worldwide, which, together with previous layoffs, amounts to more than 20,000 people or 15% of the company’s total workforce. It is reported by Bloomber
The decision is part of a tough restructuring programme aimed at cutting costs following a catastrophic drop in global sales of 40% since 2017.
In 2017, Nissan sold more than 5.6 million cars, and in 2023 – only 3.34 million. The worst dynamics were recorded in key markets: the US and China.
On the eve of the announcement of its financial results for the year, the company had previously forecast losses of around USD 5 billion. This data only underlines the scale of the crisis that one of the once leading players in the global automotive industry is facing.
Nissan says the cutbacks are a necessary step to ensure financial stability and focus on more profitable areas, including electric vehicles and high-growth markets.
Nissan’s downfall began after the arrest of its former chairman Carlos Ghosn in 2018, which triggered a management crisis. In addition, the company lost its competitiveness in comparison with such giants as Toyota, Tesla and Chinese EV manufacturers.
