LayoffBlog.com

February 10, 2009

Nissan to cut 20,000 jobs

According to Bloomberg: “Nissan Motor Co., Japan’s third- largest carmaker, rose the most in a month after the company said yesterday it would cut 20,000 jobs in an effort to return to profit.”

“The carmaker will slash labor costs in high-wage countries by 175 billion yen ($1.9 billion), or 20 percent, after forecasting its first loss in nine years. Nissan also plans to shift some domestic production overseas to counter a rising yen.”

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