Japan’s Nissan Motor to Cut 9,000 Jobs Amid Declining Sales in China | Subscribe to Firstpost

Japan’s Nissan Motor to Cut 9,000 Jobs Amid Declining Sales in China | Subscribe to Firstpost

Japan’s Nissan Motor to Cut 9,000 Jobs Amid Declining Sales in China | Subscribe to Firstpost

Japan’s Nissan Motor has announced plans to cut 9,000 jobs and reduce its global production capacity by 20%. In the July-September quarter, Nissan’s operating profit plunged by 85%. CEO Makoto Uchida said that Nissan aims to become leaner and more resilient by restructuring its business and streamlining management to better adapt to market changes. Nissan’s global sales dropped 3.8% to 1.59 million vehicles in the first half of the financial year, with a notable 14.3% decline in China, where it faces stiff competition from local brands.

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