Nissan Motor Eliminates 9,000 Jobs Amidst Sales Crisis
- Nissan Motor plans to eliminate 9,000 jobs and reduce global production capacity by 20 percent.
- Sales declined in key markets including North America, Japan, and China during the first half of the fiscal year.
- The company's financial measures reflect its need to realign operations to address significant profit drops.
Nissan Motor announced on November 7, 2024, that it will cut 9,000 jobs and reduce its global production capacity by 20 percent. These changes come as the company faces significant challenges in the automotive market, with retail sales declining across major regions including North America, Japan, and China. In the first half of the fiscal year, Nissan's operating profit plummeted by 90 percent to just $214 million, reflecting the broader struggles within the company. Chief Executive Makoto Uchida will also experience a 50 percent reduction in his monthly pay, signaling a serious commitment to addressing the financial difficulties. Overall, these actions are indicative of Nissan's need to adapt to a rapidly changing market environment and to improve its financial sustainability.