Nissan job cuts double to 20,000 in huge overhaul

Nissan Motor Co. will eliminate 11,000 more jobs than previously planned, NHK reported on Monday, as part of a plan to restructure its flailing business.

- Bloomberg

The Japanese carmaker said in November it would cut 9,000 positions after weak sales in the US and China led to a 94% drop in first-half net income. Now those job cuts will be closer to 20,000, or around 15% of the entire workforce, according to Japan's national broadcaster.

The redundancies will occur both at home and overseas, it added.

Nissan's crisis is in danger of getting even worse after the company warned shareholders last month that it will see a net loss on restructuring costs of as much as ¥750 billion ($5 billion) for the fiscal year that ended March 2025.