Major car brand reveals plans to cut THOUSANDS MORE jobs as they nurse huge losses
Japanese car giant Nissan revealed today that they will be cutting 11,000 roles worldwide, according to a report by Japanese broadcaster NHK - just months after the brand had already announced plans to cut around 9,000 jobs
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Nissan revealed they are set to lose £4 billion after axing 9,000 jobs earlier this year
Credit: Getty
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Some 6000 workers at Nissan's Sunderland plant could be faced with job cuts
Credit: PA
The now nearly 20,000 job cuts come as the marque is reported to be facing intense competition and struggles in the car market.
Last year, Nissan revealed a 70 per cent fall in profits when it warned of potential reduction in jobs and production rates.
This includes some 6,000 job losses at Nissan's plant in Sunderland, with a total 15 per cent of its entire workforce expected to be hit.
The company is still looking for a new industrial partner since scaling back its alliance with France's Renault, as well as aborting an attempted merger with Japanese rival Honda back in February.
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Nissan has refused to comment on the report so far, and a spokesperson from the car manufacturer's UK business has been unable to immediately confirm claims.
Its suffering has been linked to collapsing market share in China, where its cars were previously lucrative.
Sales have more than halved there in the past four years.
In addition, Nissan and other Japanese rivals have been slow to develop electric models of their vehicles, causing them to fall behind their Chinese counterparts like BYD, Chery, and Geely.
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The aforementioned trio have all produced hugely popular electric and hybrid vehicles in recent years.
Nissan's new boss in China, Stephen Ma, said last month: 'The Chinese brands were too fast, to be honest.
Why legacy car brands like Nissan, Jeep and VW are dying
'They were exceptional in how fast they moved.
"It took everybody by surprise.
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"Now I think we have reset.'
Automotive Analyst at Jato Dynamics, Felipe Munoz, told
'They are not aligned with what consumers are buying nowadays.'
Nissan has subsequently been underperforming in every market it has operated in, as Chinese competitors have started to encroach on its sales in regions like South East Asia.
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The company is expected to confirm its losses for the 2024-25 financial year on Tuesday.
They
The company recorded a £2.3billion income a year ago.
This comes months
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The GT-R R35, affectionately known as Godzilla, that was first unveiled at the Tokyo Motor Show in 2007 rolled off the production line for the final time in February.
But the firm's boss recently said it "will be back without a doubt" in a heartfelt message for customers and fans.
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