Nissan more than doubles layoffs to around 20,000
CNN
Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.
Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around. The new layoffs will bring Nissan’s total workforce reduction to around 20,000 jobs, after it previously announced plans to cut 9,000 positions. Nissan saw its profit almost wiped out in the financial year just ended. Operating profit totaled 69.8 billion yen ($472 million) in the 12 months to March, a decline of 88% from the previous year. Nissan has been badly damaged by weakening sales in the United States and China, then saw merger talks with Honda (HMC) collapse and was recently forced to replace its chief executive. Like rivals, it is also being squeezed by US tariffs and threatened by fast-rising Chinese electric vehicle makers in markets in Southeast Asia and elsewhere. New CEO Ivan Espinosa now faces the difficult job of turning around an automaker that has seen its once-mighty brand value eroded. The results were a “wake-up call,” he said at a press conference. Still, a sudden turnaround seems unlikely – the automaker expects a 200 billion yen operating loss in the first quarter, CFO Jeremie Papin said.
Elon Musk’s AI chatbot, Grok, has been flooded with sexual images of mainly women, many of them real people, by being prompted by users to “digitally undress” them and sometimes placing them in suggestive poses.
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Once again, Warner Bros. Discovery has chosen Netflix as its preferred suitor over Paramount.
Trump is running a private equity playbook on Venezuela
President Donald Trump said Tuesday night that Venezuela will turn over 30 million to 50 million barrels of oil to the United States, to be sold at market value and with the proceeds controlled by the US.
President Donald Trump has spoken in unequivocal terms: US oil companies are headed back to Venezuela, they’ll spend the tens of billions of dollars required to restore the country’s energy infrastructure, and they’ll reap the potentially enormous rewards.
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The American Dream has never felt further out of reach. And it’s not just because the house with the white-picket fence and the nanny to care for the children are unaffordable. They’re also, for many, unavailable.
Leaders of the Corporation for Public Broadcasting, a private agency that has steered federal funding to PBS, NPR and hundreds of public television and radio stations across the country, voted Monday to dissolve the organization that was created in 1967.