Struggling Nissan to cut 10,000 jobs globally

Japanese car giant Nissan is reportedly planning to cut more than 10,000 jobs globally and reports say the announcement may be formally made this Thursday.

The job cuts will come in the wake of strategies to turn the firm’s fortunes around after a former boss was recently arrested over financial misconduct.

Currently, the company is trying to resurrect from struggles that include the arrest of Carlos Ghosn and a fall in sales in the United States and Europe.

The company has a global workforce of around 139,000.

No official communication could be obtained from the company but the clear picture is likely to be painted after the announcement of its first-quarter results on Thursday.

Sources however said the Japanese car manufacturer may announce a 90 percent drop in operating profit for the first quarter owing to declining US sales.

The company has struggled in the US and Europe as it works through the aftermath of Ghosn’s arrest.

It has also faced tensions with its French partner Renault, which owns 43 percent of the Japanese manufacturer, and is undergoing an overhaul intended to strengthen governance after the Ghosn scandal.

Areas and countries where the job cuts may be effected are those the firm has registered low profitability.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.