The Japanese car maker Nissan has announced they will axe 20,000 jobs globally and close seven factories.
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As part of a restructuring programme Nissan originally announce in November they will cut 9,000 roles, now they have said they will shed an additional 11,000 jobs.
The restructuring programme will affect 15% of Japanese car makers workforce.
Nissan cautioned the US President’s 25% tariffs on cars imported into America.
Nissan president and chief executive Ivan Espinosa said, “In the face of challenging full-year 2024 performance and rising variable costs compounded by an uncertain environment, we must prioritise self-improvement with greater urgency and speed, aiming for profitability that relies less on volume.
“As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery.
“Re:Nissan is an action-based recovery plan clearly outlines what we need to do now.”
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