Japanese automaker Nissan announced today, without specifying a timeline, that it is eliminating 9,000 positions employees in its global workforce while reducing by 20% its production capacity worldwide to adjust to a significant decline in its sales.
The company went into the red from July to September, according to much less-than-expected results it released today, and significantly revised its forecast for the current fiscal year.
“Faced with the severity of the situation, Nissan is taking urgent measures to recover its performance and to create a more responsive and resilient business capable of adapting quickly to market developments, the group said in a statement.
Nissan posted an unexpected net loss of 9.3 billion yen (EUR56 million) in its second fiscal quarter (July-September). Its quarterly sales fell to 2.986 trillion yen (18 billion euros), down 5% year-on-year, according to its results released today.
Like all its Japanese and Western rivals, Nissan is suffering from a global decline in new car sales and sluggish economic conditions.
As a result of the global financial crisis, the auto industry is facing an upheaval in the global economy.
