Nissan Cuts 9,000 Jobs Amid Plummeting Sales and Rising Costs

Japanese automaker Nissan has announced a major restructuring plan, laying off 9,000 employees—roughly 6% of its global workforce—as soaring expenditures and falling car sales led to significant losses in the latest fiscal quarter. The company also plans to reduce its global production capacity by 20% to manage inventory and expenses. Nissan’s CEO Makoto Uchida, taking a 50% pay cut to shoulder responsibility, assured stakeholders that a turnaround plan is underway.

The automaker has withheld its net profit forecast for now, citing economic uncertainties, though it had earlier projected an annual profit of $1.9 billion (300 billion yen). As Nissan faces mounting challenges in a competitive automotive market, Uchida’s leadership and the restructuring strategy will be critical to restoring profitability.