Nissan lays off 15% of its global work force amid slipping sales worldwide
CBSN
Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended amid slipping vehicle sales in China and other nations, and towering restructuring costs.
Nissan said it will reduce the number of its auto plants to 10 from 17, under what it called its recovery plan to carry out "decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes." It did not say which plants were being closed but confirmed the closures will include factories in Japan.
"We have a mountain to climb," CEO Ivan Espinosa told reporters, stressing the task will not be easy, requiring discipline and team work. "Starting today, we build the future for Nissan."
