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Nissan is cutting 9,000 jobs globally. The move is expected to have far-reaching consequences, especially affecting suppliers heavily reliant on Nissan as a major customer. While Nissan anticipates saving $3 billion in the short term, the decision may lead to missing out on significant future opportunities worth many more billion dollars. The ripple effect of such job cuts emphasizes the broader implications beyond just the immediate financial gains, highlighting the interconnected nature of the automotive industry. #Nissan #JobCuts #AutomotiveIndustry

📉 Nissan Motor Corporation Unveils $2.6 Billion Cost-Saving Plan Amid Declining Sales in China and the U.S. 📉 In a bold move to stabilize its global position, Nissan Motor Company has announced a comprehensive $2.6 billion cost-saving initiative. Key actions include: ➡️ 9,000 Job Cuts globally ➡️ 20% Reduction in Production Capacity worldwide This restructuring effort comes as Nissan faces declining sales in two of its biggest markets: China and the United States. The plan aims to improve Nissan’s long-term sustainability and streamline operations in an increasingly competitive market. But what does this mean for Nissan’s future, its workforce, and the automotive industry at large? 🔍 Will these cuts pave the way for Nissan's recovery? 🔍 How will the automotive sector adapt to shifting global demand? As the automotive landscape rapidly evolves with challenges and opportunities, Nissan’s strategy highlights the difficult decisions global companies must make to navigate turbulent markets. #Nissan #AutomotiveIndustry #CostCutting #JobCuts #EconomicStrategy #GlobalEconomy #ChinaMarket #USMarket #AutomotiveNews #BusinessStrategy #ProductionCuts #CorporateNews #IndustryInsights #EconomicTrends #NissanMotors #LinkedInNews https://lnkd.in/ge2uW-x5

Nissan cut its 2024–2025 operating income forecast by 70% to ¥150 billion ($975 million). The company announced a 9,000-job global cut and plans to reduce production capacity by 20%. Nissan will sell 10% of its stake in Mitsubishi Motors, reducing its ownership from 34%. Fiscal Q2 profit fell to ¥32 billion, missing ¥65 billion expectations, reflecting a tough sales climate in China, Japan, and North America. Nissan’s ongoing three-year turnaround plan now faces added pressures due to weak sales and rising EV competition. CEO Makoto Uchida aims to expand EV offerings but faces criticism for lack of innovation in new models. #Nissan #Restructuring #JobCuts #EV

Nissan plans 9,000 job cuts, slashes annual profit outlook Nissan Motor Corporation announced a $2.6 billion cost saving plan on Thursday, including 9,000 job cuts and a 20% reduction in global production capacity as it battles falling sales in China and the United States. Japan’s third-largest automaker also cut its annual operating profit forecast by 70% to 150 billion yen ($975 million), its second downward revision this year. It scrapped its net profit forecast due to ongoing restructuring efforts, which Nissan said would cut costs by 400 billion yen ($2.6 billion) this fiscal year.

Hans Greimel reports from Tokyo on Nissan: Nissan CEO Makoto Uchida, warning of Nissan’s “extremely tough situation,” has jettisoned key points of his troubled carmaker’s midterm plan and will slash 9,000 jobs, cut production capacity and sell a chunk of its stake in Mitsubishi Motors in a bid to reverse Nissan’s slide.Moving into emergency recovery mode, Uchida unveiled the sweeping reform plans Nov. 7 after announcing that Japan’s No. 3 carmaker tumbled to a net loss in the latest quarter. The CEO, who took the helm amid the upheaval unleashed by the arrest and ouster of former Chairman Carlos Ghosn, also downgraded the full-year sales and operating profit outlooks and rescinded an earlier target for net income saying it was too soon to give any accurate forecast.Among the other reforms on tap is the promotion of Guillaume Cartier to a newly created chief performance officerposition to oversee sales and profit. Cartier is currently the chairman of Nissan Motor Co.’s operations in Europe, Africa, the Middle East, India, and Ocean. Uchida said more executive shuffles would come in January. Uchida added that he would forfeit 50 percent of his CEO compensation from this month to take responsibility for the slump.The new measures aim to carve out nearly $3 billion in additional savings at Nissan.“The question is how to do it fast and adapt to reality,” Uchida said at a news conference. “We cannot deny the fact that our sales plan was overstretched given the rapid changes in markets.” The upheaval and dramatic course correction mark a major setback for Uchida and his attempt to rekindle growth at Nissan, as the company’s sales and profits shrink. In March, the embattled CEO debuted a new business plan called The Arc that intended to boost sales by 1 million vehicles in the coming years and deliver an operating profit margin of 6 percent or more.Faced with crumbling the business environment, Uchida put those goals on hold.“We have no choice but to partially revise the plan,” Uchida said. “It is my deepest regret to face this challenging situation in the initial year of The Arc.” Nissan now wants to achieve a cost structure that will enable it to achieve profitability even at a global volume of 3.5 million vehicles. That is about 100,000 more than its current sales figure. To get there, Uchida wants to cut global capacity by 20 percent to bring its global production capacity of 5 million units more in line with its annual sales numbers.Nissan won’t cancel any of the 30 new or updated products promised under The Arc, but their launch timing may be pushed back depending on market needs, Uchida said. https://lnkd.in/g8F7-jrn

Nissan to Lay Off Thousands as Sales Struggle!! Nissan has announced plans to lay off 9,000 workers globally as part of a major restructuring effort. The decision comes amid a sharp decline in sales, particularly in China and the US, and follows a significant downward revision of its profit forecast for 2024. With production set to decrease by 20%, Nissan is aiming to become leaner and more resilient in response to growing competition, especially from Chinese automakers like BYD, and the slowdown in the US market due to inflation and high interest rates. Nissan remain optimistic, stating that these changes don't signal a shrinking company, but a refocused approach to adapt to market realities. The struggle reflects broader trends in the automotive industry, as companies race to catch up in the electrified vehicle market—particularly in China, where domestic brands have gained a significant edge. As Nissan pivots to prioritize electric vehicle production - can this restructuring be the catalyst Nissan needs to stay competitive in the global automotive market? #Nissan #AutomotiveIndustry #JobCuts #Electrification #ChinaMarket #USMarket #Restructuring #ElectricVehicles

Nissan Slashes Jobs & Production | 9,000 Jobs at Risk Amid Sales Slump | Nissan's recent decision to slash jobs and production is a stark reminder of the challenges facing the automotive industry. Declining sales, particularly in key markets like China and the US, have forced the company to take drastic measures. With a 94% drop in net income for the first half of the fiscal year, Nissan is aiming to save $2.6 billion by cutting 9,000 jobs and reducing global production capacity by 20%. This restructuring is a clear indication of the tough times ahead for the automotive industry. What are your thoughts on Nissan's decision? Do you think this is a necessary step for the company's survival? #Nissan #automotiveindustry #jobcuts #restructuring #economicoutlook

📉 Industry Shifts at Nissan Nissan is making tough decisions to navigate the challenges of a rapidly evolving automotive market. Announcing the reduction of 9,000 jobs and a 20% cut in global production, the company is responding to slowing demand in key markets like China and the U.S., increased competition from EV manufacturers, and economic pressures. Nissan’s continued focus on electric vehicle production and plans to expand the electric Qashqai, Juke, and Leaf models reflect its commitment to a sustainable future. The changes highlight both the volatility and resilience in our industry. #automotive #sustainability #EV #businessstrategy #jobmarket

TOKYO – CEO Makoto Uchida, warning of Nissan’s “extremely tough situation,” has jettisoned key points of his troubled carmaker’s midterm plan and will slash 9,000 jobs, cut production capacity and sell a chunk of its stake in Mitsubishi Motors in a bid to reverse Nissan’s slide.Moving into emergency recovery mode, Uchida unveiled the sweeping reform plans Nov. 7 after announcing that Japan’s No. 3 carmaker tumbled to a net loss in the latest quarter. The CEO, who took the helm amid the upheaval unleashed by the arrest and ouster of former Chairman Carlos Ghosn, also downgraded the full-year sales and operating profit outlooks and rescinded an earlier target for net income saying it was too soon to give any accurate forecast.Among the other reforms on tap is the promotion of Guillaume Cartier to a newly created chief performance officerposition to oversee sales and profit. Cartier is currently the chairman of Nissan Motor Co.’s operations in Europe, Africa, the Middle East, India, and Ocean.Uchida said more executive shuffles would come in January. Uchida added that he would forfeit 50 percent of his CEO compensation from this month to take responsibility for the slump.The new measures aim to carve out nearly $3 billion in additional savings at Nissan.“The question is how to do it fast and adapt to reality,” Uchida said at a news conference. “We cannot deny the fact that our sales plan was overstretched given the rapid changes in markets.” The upheaval and dramatic course correction mark a major setback for Uchida and his attempt to rekindle growth at Nissan, as the company’s sales and profits shrink. In March, the embattled CEO debuted a new business plan called The Arc that intended to boost sales by 1 million vehicles in the coming years and deliver an operating profit margin of 6 percent or more.Faced with crumbling the business environment, Uchida put those goals on hold.“We have no choice but to partially revise the plan,” Uchida said. “It is my deepest regret to face this challenging situation in the initial year of The Arc.”Nissan now wants to achieve a cost structure that will enable it to achieve profitability even at a global volume of 3.5 million vehicles. That is about 100,000 more than its current sales figure. To get there, Uchida wants to cut global capacity by 20 percent to bring its global production capacity of 5 million units more in line with its annual sales numbers.Nissan won’t cancel any of the 30 new or updated products promised under The Arc, but their launch timing may be pushed back depending on market needs, Uchida said.