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Sneeze to cut 10,000 jobs worldwide: Report


TOKYO: Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of its efforts to turn back, Kyodo News agency said on Tuesday (July 23), quoting company sources.

The additional 4,800 jobs Nissan top scorecutters announced in May, it was trimming its global 139,000 global workforce.

Nissan's net profit fell short of a decade in the last business year and has been warned of "a difficult business environment" for the next 12 months.

The company was hit by a fall in sales in the United States and Europe and is still reeling after the shock of former boss Carlos Ghosn on financial misdemeanor charges.

The French partner Renault, who owns 43 percent of the Japanese manufacturer, was also on a mission in overhaul, intended to strengthen governance at the company.

Nissan is expected to announce the job cuts on Thursday, Kiodo said.

The move is likely to hit some factories in South America and other regions where Nissan has low profitability, the news agency said.

In the financial year 2018, global sales of Nissan fell by 4.4 per cent to 5.52 million vehicles.

It suffers a 17.8 percent drop in sales in Europe and 9.3 percent in the United States.

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