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The Herald Scotland
14-05-2025
- Automotive
- The Herald Scotland
Nissan layoffs, plant closures: Carmaker announces more cost cuts
Following a whirlwind year, the company announced it would also close seven plants, Reuters reported. The move will cut the number of its production plants from 17 to 10. It was not immediately clear which positions were being slashed and which plants were shuttering. USA TODAY has reached out to Nissan. Financial results a 'wake-up call,' CEO says Nissan employs more than 133,000 people worldwide, according to Nissan's Global website, with about 21,000 people, including manufacturing employees, in the United States. The new layoffs will bring Nissan's total workforce cuts to about 20,000 jobs. Last year, the automaker announced plans to cut 9,000 workers and previously announced nixing plans to build a plant in Japan. "As you can see, our full-year financial results are a wake-up call," newly named CEO Ivan Espinosa said during a press conference, according to Reuters and The Japan Times. The reality is very clear. Our variable costs are rising. Our fixed costs are higher than our current revenue can support." Espinosa, who replaced former CEO Makoto Uchida (2019-2025) recently revealed a handful of upcoming vehicles to the public recently including the new Leaf EV and the Kicks. The hidden costs of owning a car: How fuel, maintenance and depreciation add up Nissan layoffs come after retreating on merger The move comes on the heels of Nissan facing a plethora of challenges including new management, falling sales, and potential merger or acquisition. But analysts don't see the company failing anytime soon, the Detroit Free Press, part of the USA TODAY Network reported last month. In December 2024, Nissan and Honda announced a plan to merge, but Nissan retreated from the negotiations in February. This is a developing story. Contributing: Reuters; Mark Phelan with The Detroit Free Press Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund.
Yahoo
13-05-2025
- Automotive
- Yahoo
Nissan layoffs: Company to slash another 11,000 jobs, close 7 plants
Nissan on May 13 announced sweeping cuts across the company with plans to lay off another 11,000 employees and close more than a half-dozen plants across the globe. The latest cuts bring the carmaker's total workforce reduction to roughly 20,000 jobs, which accounts for 15% of the Japan-based automakers workforce, according to Reuters and The Associated Press. Following a whirlwind year, the company announced it would also close seven plants, Reuters reported. The move will cut the number of its production plants from 17 to 10. It was not immediately clear which positions were being slashed and which plants were shuttering. USA TODAY has reached out to Nissan. Nissan employs more than 133,000 people worldwide, according to Nissan's Global website, with about 21,000 people, including manufacturing employees, in the United States. The new layoffs will bring Nissan's total workforce cuts to about 20,000 jobs. Last year, the automaker announced plans to cut 9,000 workers and previously announced nixing plans to build a plant in Japan. "As you can see, our full-year financial results are a wake-up call," newly named CEO Ivan Espinosa said during a press conference, according to Reuters and The Japan Times. The reality is very clear. Our variable costs are rising. Our fixed costs are higher than our current revenue can support." Espinosa, who replaced former CEO Makoto Uchida (2019-2025) recently revealed a handful of upcoming vehicles to the public recently including the new Leaf EV and the Kicks. The hidden costs of owning a car: How fuel, maintenance and depreciation add up The move comes on the heels of Nissan facing a plethora of challenges including new management, falling sales, and potential merger or acquisition. But analysts don't see the company failing anytime soon, the Detroit Free Press, part of the USA TODAY Network reported last month. In December 2024, Nissan and Honda announced a plan to merge, but Nissan retreated from the negotiations in February. This is a developing story. Contributing: Reuters; Mark Phelan with The Detroit Free Press Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund. This article originally appeared on USA TODAY: Nissan layoffs, plant closures: Carmaker announces more cost cuts Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Automotive
- Yahoo
Nissan layoffs: Company to slash another 11,000 jobs, close 7 plants
Nissan on May 13 announced sweeping cuts across the company with plans to lay off another 11,000 employees and close more than a half-dozen plants across the globe. The latest cuts bring the carmaker's total workforce reduction to roughly 20,000 jobs, which accounts for 15% of the Japan-based automakers workforce, according to Reuters and The Associated Press. Following a whirlwind year, the company announced it would also close seven plants, Reuters reported. The move will cut the number of its production plants from 17 to 10. It was not immediately clear which positions were being slashed and which plants were shuttering. USA TODAY has reached out to Nissan. Nissan employs more than 133,000 people worldwide, according to Nissan's Global website, with about 21,000 people, including manufacturing employees, in the United States. The new layoffs will bring Nissan's total workforce cuts to about 20,000 jobs. Last year, the automaker announced plans to cut 9,000 workers and previously announced nixing plans to build a plant in Japan. "As you can see, our full-year financial results are a wake-up call," newly named CEO Ivan Espinosa said during a press conference, according to Reuters and The Japan Times. The reality is very clear. Our variable costs are rising. Our fixed costs are higher than our current revenue can support." Espinosa, who replaced former CEO Makoto Uchida (2019-2025) recently revealed a handful of upcoming vehicles to the public recently including the new Leaf EV and the Kicks. The hidden costs of owning a car: How fuel, maintenance and depreciation add up The move comes on the heels of Nissan facing a plethora of challenges including new management, falling sales, and potential merger or acquisition. But analysts don't see the company failing anytime soon, the Detroit Free Press, part of the USA TODAY Network reported last month. In December 2024, Nissan and Honda announced a plan to merge, but Nissan retreated from the negotiations in February. This is a developing story. Contributing: Reuters; Mark Phelan with The Detroit Free Press Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund. This article originally appeared on USA TODAY: Nissan layoffs, plant closures: Carmaker announces more cost cuts Sign in to access your portfolio
USA Today
13-05-2025
- Automotive
- USA Today
Nissan layoffs: Company to slash another 11,000 jobs, close 7 plants
Nissan layoffs: Company to slash another 11,000 jobs, close 7 plants Show Caption Hide Caption Carlos Ghosn slams Nissan's leadership, warns of 'desperate situation' Former Nissan and Renault boss Carlos Ghosn has blasted Nissan's current management, claiming the company is in a 'desperate situation', and predicting its decline years ago. Cover Media - Shareable Nissan on May 13 announced sweeping cuts across the company with plans to lay off another 11,000 employees and close more than a half-dozen plants across the globe. The latest cuts bring the carmaker's total workforce reduction to roughly 20,000 jobs, which accounts for 15% of the Japan-based automakers workforce, according to Reuters and The Associated Press. Following a whirlwind year, the company announced it would also close seven plants, Reuters reported. The move will cut the number of its production plants from 17 to 10. It was not immediately clear which positions were being slashed and which plants were shuttering. USA TODAY has reached out to Nissan. Financial results a 'wake-up call,' CEO says Nissan employs more than 133,000 people worldwide, according to Nissan's Global website, with about 21,000 people, including manufacturing employees, in the United States. The new layoffs will bring Nissan's total workforce cuts to about 20,000 jobs. Last year, the automaker announced plans to cut 9,000 workers and previously announced nixing plans to build a plant in Japan. "As you can see, our full-year financial results are a wake-up call," newly named CEO Ivan Espinosa said during a press conference, according to Reuters and The Japan Times. The reality is very clear. Our variable costs are rising. Our fixed costs are higher than our current revenue can support." Espinosa, who replaced former CEO Makoto Uchida (2019-2025) recently revealed a handful of upcoming vehicles to the public recently including the new Leaf EV and the Kicks. The hidden costs of owning a car: How fuel, maintenance and depreciation add up Nissan layoffs come after retreating on merger The move comes on the heels of Nissan facing a plethora of challenges including new management, falling sales, and potential merger or acquisition. But analysts don't see the company failing anytime soon, the Detroit Free Press, part of the USA TODAY Network reported last month. In December 2024, Nissan and Honda announced a plan to merge, but Nissan retreated from the negotiations in February. This is a developing story. Contributing: Reuters; Mark Phelan with The Detroit Free Press Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund.
Scottish Sun
25-04-2025
- Automotive
- Scottish Sun
Fears over future of iconic car brand hit by £4BILLION loss – after axing 9,000 jobs & failed ‘merger' talks with rival
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR car manufacturer has revealed they are set to lose £4billion this year after axing 9,000 jobs. The figure is far higher than the £426million bosses had previously forecast for the 2024/2025 financial year. Sign up for Scottish Sun newsletter Sign up 2 Nissan have now predicted they could make a net loss of anywhere between £3.7billion to £4billion Credit: Getty 2 Restructuring included moves to axe 9,000 jobs Credit: Getty Nissan have now predicted they could make a net loss of anywhere between £3.7billion to £4billion. Meanwhile the company recorded a £2.3billion income a year ago. The Japanese manufacturer has put loses down to costs to carry out a strategy planned by their new CEO Ivan Espinosa. He made way for a £2.6billion decrease in the value of production and forked out £316million in restructuring costs. Restructuring included moves to axe 9,000 jobs internationally and scrapping a factory in Sunderland. Alan Johnson, the company's senior vice-president for manufacturing, supply chain and purchasing, told MPs this week the UK is "not a competitive place to be building cars". Despite the losses, Nissan predicted it will end the year with close to £7.9billion - a fraction of the £8.2billion brought in last financial year. The firm also said it is due to round up the year with debts of £10billion. Speaking to Autocar last month, Espinosa said: "Costs have to be improved both on the fixed and viable side." Performance officer Guillaume Cartier added: 'When we have the right products, we have proven we can grow." This follows Nissan announcing they were "on the brink of collapse". The firm revealed three news EVs as its boss vows to save its UK factory from closure. Nissan shared the arrival of the all-new Leaf EV and a revived Micra model - with a shiny new battery-powered supermini. Also launching soon is the Qashqai - one of the UK's best-selling cars - and a new Juke, which will be upgraded in the Sunderland plant. After rumours swirled about the future of Nissan's UK factory, the car brand's boss François Bailly said he was committed to maintaining the Sunderland factory, calling it the "jewel of Europe". But while Nissan's head is set on keeping the UK based production unit, he said the country's ZEV mandate is making "life very difficult". The car brand's performance officer Guillaume Cartier told Autocar: "We still have 10 years, so we need what we call two legs or a dual strategy: what are the cars that we can extend, and what are the technologies that we want to invest in.' Earlier this month the company even called time on its former CEO Makoto Uchida. Yasushi Kimura, chair of Nissan's board of directors, said: "Given the industry wide challenges and Nissan's performance, we believe it is necessary as well as appropriate to change the top management team." Indeed, signs of trouble began in May when they asked dealers in the US to begin selling cars at a loss. News then broke that Nissan and Honda were to expand their earlier partnership to work on electric vehicles and software alongside fellow manufacturer Mitsubishi. But in November, they dropped the bombshell announcement that some 9,000 employees globally would be laid off, along with the reduction of production. By the end of 2024, some company executives had disclosed that Nissan had 12 to 14 months left to survive - a frightening prospect, with their best chance of continuing being a merger with another company. In December, the CEOs of Nissan and Honda met for official talks and announced they would officially look to merge. But these talks deteriorated in the new year as Nissan withdrew from the deal, following Honda's proposal to make them a subsidiary. However the tide could finally be turning for Nissan as its new boss announced that talks of a merger with its major rival are back on. Nissan's CEO Ivan Espinosa has said the company remains "very open" to partnerships after its merger talks with competitor Honda spectacularly collapsed. The company's chief performance officer, Guillaume Cartier, also said Nissan had "never stopped" talking with its Japanese rival, confirming that the two were still actively working towards a potential partnership. Espinosa has said his company faces up to five simultaneous crises, including a damaged brand, low morale, and the execution of a sweeping turnaround. The 46-year-old appears to be open to partnerships, saying there were "no taboos" around the idea of having future partners help plug the gaps in its range of motors. Speaking at a company event, he said: "The way we are seeing partners is broadly, not only thinking about cars but how to push Nissan into the next era of technology'.
