Nissan to Cut 9,000 Jobs Worldwide

TOKYO, Nov 08 (News On Japan) - Nissan Motor Co. has announced it will cut 9,000 jobs globally in response to declining business performance.

In its interim earnings report for the April-September period, Nissan reported a 90.2% drop in operating profit to 32.9 billion yen compared to the same period last year, while net profit, reflecting final earnings, plummeted by 93.5% to 19.2 billion yen.

The decline in performance was attributed to a slump in sales in North America and China, among other factors.

In light of the worsening business conditions, Nissan stated it will reduce its workforce by 9,000 worldwide and cut production capacity by 20%.

Additionally, President Uchida has announced he will forfeit half of his salary from this month onwards, at least temporarily.

Source: ANN

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