Nissan to cut 12,500 jobs as crisis deepens after profit wipe out
Motor company says global vehicle production will fall after operating profit drops 98.5% in first quarter
25 July 2019 - 16:39
Yokohama — Nissan Motor has unveiled its biggest restructuring plan in a decade, axing nearly a 10th of its workforce and flagging possible plant closures to rein in costs that ballooned when Carlos Ghosn was CEO.
The cuts announced on Thursday followed a decimation of Nissan’s quarterly profit, highlighting how a crisis — brought about by sluggish sales and rising costs — is deepening at Japan’s No 2 carmaker in the wake of a financial misconduct scandal over Ghosn, who has denied the charges...
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