Nissan Cuts 9,000 Jobs Amid Declining Vehicle Sales

Nissan reported a loss of 9.3 billion yen for the fiscal quarter ending in September 2024, a significant decline from last year's profit. In response, the company has decided to reduce its global workforce by 9,000 employees, which constitutes about 6% of its total staff. Chief Executive Makoto Uchida attributed the losses to a failure to adapt to market changes and rising raw material costs. Additionally, Nissan has lowered its sales revenue forecast for the fiscal year through March 2025. The automaker announced it would review all operations and plans to restructure its business to improve efficiency.