Nissan shares slump after it announces 9,000 job cuts and a plan to slash production
Tokai Tokyo Intelligence Laboratory analyst Seiji Sugiura placed much of the blame for Nissan’s US hybrid situation on management, which he said was mainly pinning hope on selling new EVs and traditionally powered models. “The company released its mid ...
Nissan, hurt by US and Chinese sales, slashes 9,000 jobs globally; CEO to cut pay in half
TOKYO — Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S.
A lack of hybrid options in the U.S., among other issues, is hurting the brand.
But Nissan's graver problem may be in the United States, where it lacks a credible line-up of hybrid cars. That's in contrast to Japanese rival Toyota, which has seen a boom in demand for gasoline ...
Nissan's stock is down 32% this year. The company faces declining sales in China due to competition from local players and ...
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