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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.”

February 9, 2009

Nissan to lay of 20,000 worldwide.

Filed under: auto,Japan,worldwide — 7macaw @ 6:55 am
Tags: , ,

Nissan Motor Co said on Monday it would lay off 20,000 workers worldwide in the year from April 1.

The automaker also said it was cutting capital spending by 21 percent in the year to March 31 and would cut such outlays by a further 14 percent in the year from April.

Reuters

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