Nissan announces 9,000 job cuts, slashes sales forecast ...Middle East

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Nissan announces 9,000 job cuts, slashes sales forecast
source : Daily Sun ( Middle East ) () 51
TOKYO: Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle “a severe situation”.The company reported a 93 percent plunge in net profit in the first half as CEO Makoto Uchida told reporters that weak sales in the North American market were a major factor.Nissan and its domestic rivals are also struggling to stand their ground in China, as fast-growing electric vehicle firms backed by Beijing race ahead.“Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market,“ a com

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