Nissan might be asking more than 10,000 employees to leave. This comes after the company projects its profit to fall further for 2019.
As reported by Kyodo News, sources from the company told the new agency that the news of the job cuts will come when it releases its April-June earnings figures as nett profits hit a nine-year low going into March.
Jobs which will be cut are expected to mostly come from factories in regions with low utilisation rates and through early retirement options. Nissan only planned to axe around 4,800 employees back in May but the numbers has grown by quite a bit since then. If the numbers turn out true, he move will see the company reducing its overall global workforce by around 7%
The report also suggested that it may also streamline output in its domestic market as Nissan saw its global vehicle sales fall 4.4% to 5.52 million units in fiscal 2018. The company reckons things will be worse as sales is projected to be nearly halved for the 2019 financial year.