daily Nissan cuts global production capacity by 20% and cuts 9,000 jobs due to poor performance

Japan's Nissan Motor Co. has announced a restructuring plan to cut its production capacity and staff following its sluggish performance, the Nihon Keizai Shimbun reported.

Nissan President Makoto Uchida announced today (7th) that he would reduce global production capacity by 20% and 9,000 employees.

Uchida plans to close some of the plants as a result, but did not specify when or what they would be.

Nissan's annual global production capacity was 7 million units in 2020 but has now fallen below 5 million, and the restructuring will cut 20% to less than 4 million.

In addition, the 9,000 people to be cut this time are 7% of Nissan's 130,000 global employees.

Nissan also plans to sell 10% of its shares in Mitsubishi Motors to Mitsubishi Motors to secure funds to operate the company.

Nissan has been struggling with recent backlogs in sales of hybrid and electric vehicles in its flagship markets, the United States and China.

Nissan announced that its net profit between April and September this year was 19.2 billion yen, down 94% from the same period last year, and about 170 billion won in our money.

Uchida said he felt responsible and said he would return half of his salary for the time being starting this month.