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Japanese car manufacturer Nissanis implementing major cost savings to cope with the decline in global sales. Company, It will lay off 9,000 people and announced it would reduce
Japanese car manufacturer Nissanis implementing major cost savings to cope with the decline in global sales. Company, It will lay off 9,000 people and announced it would reduce its production capacity by 20%. CEO Makoto Uchida does agreed to halve his salary.
It was stated that Nissan was going through a difficult period. Over the past six months, operating profit fell 90% to $214 million. The company is facing difficulties in its key markets such as North America, China and Japan. These developments make Nissan more cost reduction made it necessary to do this.
electric vehicle And increasing demand for hybrid vehiclesespecially in the Chinese and American markets. As local brands in China leapfrog traditional automakers with affordable electric vehicles, demand for hybrid vehicles in the US is increasing. It is said that Nissan is not competitive enough in this area.
Nissan will use the resources it gets from these cuts to strengthen its electric and hybrid vehicles. The company is mainly active in China growth in the electric vehicle market and aims to expand its hybrid vehicle portfolio in the US.
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