Nissan cuts 9,000 jobs as its vehicles fail to sell

[Chikane_GTR]

Not sure if posted already.

Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs.

Chief Executive Makoto Uchida said he was taking a 50% pay cut to take responsibility for the dismal results, while promising that a turnaround was coming.

Nissan Motor Corp. announced a global workforce reduction of 9,000 people, or about 6% of its more than 133,000 employees, as well as a plan to slash global production capacity by 20%.

More at the source.
https://apnews.com/article/nissan-j...n=TrueAnthem&utm_medium=AP&utm_source=Twitter

 

[Joey D]

Probably because Nissan's lineup of cars is terrible, and some are outdated, at least in the US. I've always said that Nissan is just a financing company that happens to sell cars, and they make the equivalent of automotive white goods. That's why the whole stigma of Big Altima Energy exists. It wouldn't surprise me to see Nissan leave the US entirely and focus only on Japan and parts of Europe to cut costs. Although, Mitsubishi still manages to exist in the US for some reason, so many Nissan can continue as well.

 

[sw3g005]

Honestly, I'm more surprised Mitsubishi continues to soldier on in the US. Besides the Outlander which is okay, the rest of the lineup is... shocking to say the least. In that regard, I would be less surprised seeing Mitsubishi leave and focus on Asia and Europe - Nissan by comparsion seems to be doing better. Not saying it's good-good, but it's probably enough for them to reliably stay in the US.

 

[Tornado]

I mean interests rates are so bad that someone with a Nissan credit score probably has an APR that's the price of the car every year.

Probably because Nissan's lineup of cars is terrible, and some are outdated, at least in the US.

And a lot of them were the former even when they weren't yet the latter!