Nissan to reportedly cut 10k jobs globally; things to get clear today

Reports surfacing out from Japan are highly suggestive that the country’s famous auto manufacturer Nissan is likely to cut 10,000 jobs globally. Prior to this, the company had already announced in May that it would be slashing 4,800 jobs. This may be a part of the speculated forthcoming announcement and the entire thing would amount to a 7 percent decrement in the global workforce. The job-cut news may come up alongside the announcement of its earnings, which the company will do today. The company, however, has refused to comment anything on it.

2019 is being one of the worst years in the company’s history, particularly the month of May. Apart from the job cut announcement in that month, Nissan had also faced a defaming event of ousting of Carlos Ghosn, the then company’s chairman. Not a casual ejection but the event followed multiple financial misconduct charges on the former chairman, which had even landed him in custody. Thereafter, the company is also struggling with declining sales in the USA, where it introduced a series of price cuts and discounts in order to assuage the situation, which nevertheless, didn’t help out enough.

Coming back to the news in concern, the expected upcoming job cuts will hit the factories outside of Japan. The major fear amounts to the workers of the Sunderland plant in the UK, the locale, which was initially chosen for the production of the new X-Trail. However, Nissan impinged shocks by shifting the production in Japan. According to several reports from the Japanese media, the job cuts would also affect the factories in South America and the regions where the company is struggling with slumping profits.