Nissan to Cut Over 10,000 Jobs Around the World
According to a report from Kyodo News, Japanese automaker Nissan is set to slash more than 10,000 jobs worldwide.
In an effort to turn around its business, Nissan will be slashing its workforce of 139,000 employees with cuts including early retirement options.
According to Kyodo, there will be an announcement coming on Thursday from the automaker when it releases earnings for the three months starting April 2019.
A Nissan spokesperson declined to comment, telling CNBC that the company does not comment on speculation.
For the 12 months that ended on March 31, 2019, Nissan had reported a 44.6% annual decline in operating profit, citing an unfavorable business climate in the U.S. Net profit had hit a 9-year low.
The automaker has projected that profits would decrease by almost 28% for the current fiscal year.
The company’s former Chairman Carlos Ghosn was arrested this past November over alleged financial misdeeds.