TOKYO, May 14 (NNN-NHK) – Japan’s Nissan Motor Co., announced yesterday that, it will consolidate or shut down seven of its manufacturing plants worldwide, and reduce its global workforce by 20,000 employees, by fiscal year 2027.
The company also said, it would withhold its profit forecast for fiscal year ending Mar, 2026, citing uncertainties stemming from U.S. tariff policies.
Nissan reported a net loss of 670.8 billion yen (about 4.54 billion U.S. dollars), for the fiscal year ending Mar, 2025, marking its first annual loss in four years.
The downturn was driven by increased sales expenses, in its key U.S. market, and impairment losses, from revaluation of factory assets both in Japan and overseas.
To turn around its business, Nissan officially announced plans to cut an additional 11,000 jobs globally, bringing the total reduction to 20,000 employees, about 15 percent of the group’s workforce by fiscal 2027.– NNN-NHK
