16:05 - 7.11.2024

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November 7, Fineko/abc.az. Japanese car manufacturer Nissan will lay off 9,000 employees, ABC.AZ reports, referring to Bloomberg.

The company intends to cut jobs and reduce production capacity by 20% to cope with falling sales in key markets. The manufacturer also intends to sell 10% of Mitsubishi Motors shares, reducing its share from the current 34%.

Nissan has already lowered its forecast for operating profit for fiscal year 2025 to 150 billion yens ($975 million) from 500 billion yens.

The Japanese automaker has been implementing a business recovery plan for about eight months, but is forced to reconsider its strategy. Since the beginning of 2024, Nissan has lowered its production target by 50,000 units, to 3.65 million vehicles, but given that global sales fell by almost four percent from April to September, to 1.6 million, it may not be easy to achieve this figure either.