Nissan to cut 20,000 jobs globally amid business struggles: media
Baku, May 13, AZERTAC
Japan's Nissan Motor plans to cut approximately 20,000 jobs globally, up from its previously announced 9,000, Xinhua reports citing local media.
The reduction amounted to about 15 percent of the company's 130,000-strong global workforce, according to a report by Nikkei.
Facing poor performance, especially in North America and China, the automaker aims to speed up its restructuring efforts. It is also pulling back on investments, recently scrapping plans to build an EV battery plant in Kitakyushu, the report noted.
The company will announce further details of its restructuring at its earnings report on Tuesday, according to the report.
Amid business struggles, Nissan has previously sought to join hands with Honda Motor Co. for a potential merger, but the restructuring attempt ended earlier this year as disagreements deepened for the two sides.
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