Nissan – To cut 12,500 jobs

Nissan will reduce at least 12,500 positions globally by March 2023 – its deepest job cuts since 2009 – and slash production capacity, mainly of compact cars at underutilised plants abroad. The move will shrink its product line-up by about 10%, Saikawa said,

Nissan CEO Hiroto Saikawa attends a news conference to release first quarter earnings at the company headquarters in Yokohama,
The maker of the Rogue SUV crossover and the tiny, low-cost Datsun Redi-Go, had 138,000 employees as of March 2018.

“We are mainly targeting sites where we made investments to produce compact cars under the Power 88 plan,” Saikawa told reporters at a briefing at Nissan headquarters, referring to an aggressive growth strategy spearheaded by Ghosn in 2011 to grab 8% global market share and an 8% operating margin.

Saikawa said a total of 14 facilities would be affected.

Nissan’s job cuts expand on redundancies initially announced in May, which affected eight facilities including in Spain – where trucks and vans are made – and Indonesia, where the March subcompact hatchback and Datsun models are manufactured.

Chosen excerpts by Job Market Monitor. Read the whole story at Nissan to cut 12,500 jobs as crisis deepens after profit wipe out – Reuters