NISSAN has announced it is to cut 20,000 jobs globally, as part of a significant expansion of its “Re:Nissan” global economic recovery plan. In addition, the brand will close seven plants and suspend all product developments scheduled beyond 2026.
This move follows the firm’s communication in February, which outlined a reduction of 9,000 jobs, the closure of three factories, and a 20 per cent decrease in production to five million vehicles annually.
The statement coincides with the confirmation of a net loss of £3.8billion for the 2024/25 fiscal year, while the company clarified the 20,000 job losses includes the 9,000 cuts previously disclosed.
Ivan Espinosa, president and CEO of Nissan, attributed the considerable financial deficit to “a challenging FY24 performance and rising variable costs, compounded by an uncertain environment”.
Nissan…
