Nissan on track for huge loss

Nissan on track for huge loss

Actually, US$2.9 billion doesn’t really sound like much in the current scheme of things but, along with the rest of the automotive industry, it’s shedding jobs in a bid to cut costs and erase the red ink from its books. This will be Nissan’s first loss in nine years, and it comes at the expense of up to 20,000 jobs (around 8.5% of its workforce). As many of these as possible will be early retirement packages and culling contractors, but it seems the majority will be lay-offs.

Despite having a halo product like the GT-R, Nissan has quite a pessimistic attitude about the future economic climate as its cuts, which will leave it with 215,000 employees, will take place right through to March 2010 – it’s not holding out much hope of a quick recovery.

Actually, US$2.9 billion doesn’t really sound like much in the current scheme of things but, along with the rest of the automotive industry, it’s shedding jobs in a bid to cut costs and erase the red ink from its books. This will be Nissan’s first loss in nine years, and it comes at the expense of up to 20,000 jobs (around 8.5% of its workforce). As many of these as possible will be early retirement packages and culling contractors, but it seems the majority will be lay-offs.

Despite having a halo product like the GT-R, Nissan has quite a pessimistic attitude about the future economic climate as its cuts, which will leave it with 215,000 employees, will take place right through to March 2010 – it’s not holding out much hope of a quick recovery.

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