By DCB Editorial, November 12, 2024
Nissan plans to lay off 9,000 workers globally and cut production by 20% to counter declining sales in China and the U.S., aiming to streamline operations and reduce costs. While details on job cuts are not yet specified, Nissan has cut its 2024 profit forecast by 70%, marking a second reduction this year.
CEO Makoto Uchida emphasized a focus on efficiency rather than downsizing, with executive salaries also reduced as part of cost-saving efforts.
Challenges include intense competition from Chinese EV makers like BYD and weakened U.S. demand due to inflation and high interest rates.
Despite these issues, Nissan remains committed to electrification, with a £2 billion investment in new electric models at its UK Sunderland plant.
