Job cuts at Nissan

Author: Mario Schmidtgen
Date: 29.07.2019

Low sales and profit

With 5.5 million cars sold in the past fiscal year, Nissan recorded a decline in sales of more than nine percent in the USA and around 18 percent in Europe. In addition, profits have collapsed and the forecasts for the current year are pessimistic. As a result, the Japanese carmaker may now be forced to cut thousands of jobs.

Obviously, a total of 10,000 jobs will be cut worldwide. The measure will be announced by Nissan on Thursday. This was reported by the news agency “Kyodo News” according to information from company insiders.

Since the Japanese carmaker’s sales in the USA and Europe have declined, it has been under economic pressure. Already in May it was announced that 4,800 of the 139,000 jobs worldwide would be cut.

The profit in the past financial year is as low as it has not been for almost ten years. Nissan cited the “difficult economic environment” and the consequences of the scandal surrounding the former chairman of the supervisory board, Carlos Ghosn, as reasons for this. Accordingly, the forecast for the current financial year was correspondingly negative.