Nissan has announced a drastic reduction in its workforce by 9 000 employees as it aims to reduces costs and return to profitability.
Nissan will reduce its global workforce by 9 000 over the next months as it tries to return to profitability. Image: Nissan
Nissan and its domestic rivals are also struggling to stand their ground in China, as fast-growing electric vehicle firms backed by Beijing race ahead.“Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market,” a company statement said.
Among other measures, the automaker will reduce its stake in Mitsubishi Motors by selling shares back to the firm.
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