Job cuts are part of Nissan’s response to ‘severe situation’
Automotive group has announced plans to reduce its global workforce by 9,000 people and to cut its global production capacity by 20%.
It announced these measures on publishing its results for the first half of its current financial year. In the six months to September 30, Nissan achieved consolidated net revenues of just under $40 billion, a fall of 11.7%.
Its operating profit from these figures reduced substantially, reaching just over $210 million, compared to an operating profit of almost $1.4 billion in the same period a year earlier.
It sold 1.6 million cars in the six-month period, down from almost 1.7 million in the same period last year.
The company said: “Facing a severe situation, Nissan is taking urgent measures to turn around its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market.”
