After posting a weak set of financial results, Nissan has announced cost-cutting plans that will result in thousands of jobs lost from its global oper

Nissan to cut 9,000 jobs globally

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2024-11-07 12:00:06

After posting a weak set of financial results, Nissan has announced cost-cutting plans that will result in thousands of jobs lost from its global operations. The company said that it aims to reduce fixed costs by 300 billion yen (compared to FY2024) and variable costs by 100 billion yen (compared to FY2024) while maintaining a healthy free cash flow.

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To achieve this, Nissan said it will cut global production capacity by 20% and reduce its global workforce by 9,000. It currently employs around 133,000 people globally, but it’s not clear where the job cuts axe will fall.

The company said it is implementing various measures to lower selling, general, and administrative expenses, decrease the cost of goods sold, rationalise its asset portfolio, and prioritise capital expenditures and investments in research and development.

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