Nissan shares slump after it announces 9,000 job cuts and a plan to slash production
Nissan Motor shares slumped 6% in Tokyo trade Friday, a day after the Japanese automaker said it would cut 9,000 jobs and a fifth of its manufacturing capacity as it struggles with sales in China and the United States.
Nissan, hurt by US and Chinese sales, slashes 9,000 jobs globally; CEO to cut pay in half
The Yokohama-based company is planning to cut 9,000 jobs, equivalent to 6.7% of its 133,580 global employees. Uchida declined to give any details about the timing or location of the job and production cuts. Nissan's North American headquarters is in Nashville, and it has manufacturing plants in Tennessee and Mississippi with nonunion workforces.
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