Nissan Motor Co is reportedly set to eliminate an additional 10,000 jobs worldwide, deepening its workforce reduction efforts as the troubled automaker grapples with what could be its worst annual financial loss on record. The latest cuts, reported by Japanese broadcaster NHK and the Nikkei business daily, come on the heels of a previous announcement in November to shed 9,000 positions.
If confirmed, the latest move would mark a total workforce reduction of approximately 15 per cent globally as Nissan attempts to navigate a landscape of mounting debt, intense competition, and faltering profitability. The company declined to comment on the latest media reports.
Nissan is expected to post a net loss of between 700 billion and 750 billion yen for the fiscal year ending March 2025. This would eclipse its previous record loss of 684 billion yen recorded in 1999-2000, a period marked by crisis that eventually led to its turbulent partnership with French automaker Renault.