Nissan to axe more staff

Nissan is planning to cut more than 10,000 extra jobs globally, according to reports in the Japanese media this week. 

The latest round of job cuts will bring the total number of redundancies, including those previously announced, to around 20,000 – or about 15 per cent of the company’s overall workforce.

The decision comes as Japan’s third-largest carmaker continues to face deepening financial difficulties, and weak sales in key markets such as China and America.

This latest development adds to Nissan’s existing restructuring strategy, which has already included a reduction of 9,000 jobs and a 20 per cent cut in worldwide production capacity. As of March 2024, it employed 133,000 people.

The company is aiming to streamline operations and strengthen resilience amid increasingly challenging market conditions.

Nissan, which has declined to comment on the media reports, is looking to make its business leaner and more resilient after doing poorly in its top market, the US, where its performance has suffered from a lack of hybrids and an ageing line-up. As for China, it’s looking to stop a sales slide by launching some 10 new vehicles in coming years.