Nissan's Global Workforce Reduction

In a significant move, Nissan Motor Co., Ltd. is set to eliminate more than 10,000 positions worldwide, as reported by Japanese NHK on Monday. This decision marks a continuation of the company's efforts to streamline operations amidst financial challenges.

Earlier, in November, the automotive giant had disclosed plans to cut 9,000 jobs. The latest announcement brings the total planned reductions to a staggering 15% of its workforce. Despite the reports, Nissan officials have remained silent, offering no comments on the matter.

Financial Struggles and Future Outlook

The company is bracing for a tough financial year, with projections indicating a net loss ranging between ¥700 billion and ¥750 billion ($4.9 billion to $5.3 billion) for 2024. This grim forecast underscores the severity of Nissan's current predicament. The official earnings report, eagerly awaited by stakeholders, is scheduled for release on May 13.