While earlier Nissan had talked of letting go only about 9,000 employees due to poor business, it has now decided to double the number of job cuts. As per media reports, it is gearing to trim its global workforce by 15 per cent, which may affect 20,000 employees.
While low sales in China and the US had driven Nissan to consider job cuts and decrease its growth outlook since November 2024, it is now staring at record losses. It had informed shareholders in April 2025 that it is expecting to post net losses to the tune of $4.74 billion to $5.08 billion owing to impairment charges. However, not too many much details are available as an official release or announcement is still awaited. What is known is that Nissan is facing stiff competition from Chinese EV makers. Additionally, US tariffs have adversely affected its profits.
It is reported that Nissan is struggling with huge debts and is undergoing a massive and high-cost business restructuring plan
The company had revealed intentions to shut down three plants by June, of which one is in Thailand. It has also reportedly dropped plans to build a billion-dollar factory for EV batteries in Kyushu, Japan, for which it was awaiting subsidies from the government.
Nissan had a workforce strength of at least 1.33 lakh as of March 2024.