The Japanese automaker Nissan announced this Thursday that it will cut 9,000 jobs worldwide and reduce its production capacity by 20%, after revealing a drop in sales and revising its revenue and operating profit forecasts downward for the 2024 financial year.
Nissan’s net profit fell by 93.5% between April and September, to ¥19.223 billion (€116 million), impacted by a global sales decline of 3.8%, down to 1.59 million vehicles in the first half of the fiscal year, largely due to a 14.3% drop recorded in China.
In the US, sales fell by nearly 3%, to around 449,000 vehicles. It should be noted that the markets of China and the US together account for almost half of Nissan’s global sales volume.
In light of this situation, the Japanese brand promised to undertake a comprehensive restructuring “with the aim of becoming stronger, more resilient, and adaptable for the future”, according to Nissan’s president and CEO, Makoto Uchida, during a press conference.
Uchida did not disclose details about which countries or when exactly the job cuts will take place, stating only that the production level in each region where the company operates will be “reviewed and analyzed”.
