Nissan to Slash 10,000 Jobs, Chiefly in Europe, Asia

Economy

Tokyo, July 24 (Jiji Press)--Nissan Motor Co. <7201> will reduce its group workforce by some 10,000, mainly at factories in Europe and Asia, doubling the cut of 4,800 jobs that the Japanese automaker announced in May, informed sources said Wednesday.

Nissan is slated to announce the expanded downsizing plan when it releases April-June 2019 earnings on Thursday, according to the sources.

In the face of its sluggish overseas operations, Nissan is stepping up efforts to improve management through cuts in payroll and other costs.

Nissan had a total of some 139,000 group employees at the end of March.

The company plans to scale down production lines and offer early retirement incentives, while maintaining existing factories, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press