Nissan to lay off thousands of workers as sales drop

Published On Nov 7, 2024, 9:11 PM

Nissan is planning to lay off 9,000 workers globally in response to a significant drop in sales in China and the U.S. The company will reduce its global production by 20% and has cut its operating profit forecasts for 2024 by 70%. This marks the second downward adjustment this year. Nissan's share prices fell more than 6% following the announcement. The company aims to restructure its operations to become leaner and more resilient amidst increased competition, particularly from local firms in China.