Reported 8 months ago
Nissan Motor Co. has revealed plans to cut 9,000 jobs and reduce its manufacturing capacity by 20% due to a severe decline in net income by 94% in the first half of the fiscal year. CEO Makoto Uchida acknowledged both external competition and internal challenges, adjusting the company's operating income forecast down by 70% to ¥150 billion. The automaker is also scaling back its sales expectations and will offload part of its stake in Mitsubishi Motors while implementing a turnaround strategy focused on electric vehicles and new partnerships.
Source: YAHOO