Nissan: Job Cuts Will Not Result In Layoffs In Tennessee

27 Juillet, 2019, 00:23 | Auteur: Auguste Feret
  • Nissan's brand image has been battered after years of making discounts in an attempt to gain market share in the US

The drop in operating profit far outpaced the 66 per cent decline predicted by analysts, at 1.6 billion yen (US$14.8 million) in the April-June period.

Nissan produces about 2,000 cars a day in Sunderland, where the company employs about 7,000 people and is one of the north-east's most important employers. The company is also partnering with Waymo, a Google spinoff, to explore bringing driverless ride-hailing services to Japan and France.

A Nissan spokeswoman on Thursday said the vehicle maker's North America headquarters operation in Cool Springs, its assembly plants in Smyrna and Canton, Mississippi, and engine factory in Decherd are not being targeted for cuts.

The number of job losses is much bigger than the 4,800 the company estimated in May when it also said it will scale back its global production capacity by 10 percent to 6.6 million cars a year by fiscal 2022.

The automaker had 138,000 employees globally as of March previous year.

Nissan says it is slashing 12,500 jobs or about 9% of its global workforce in an effort to cut costs and achieve a turnaround, as its profits tumble.

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The automaker will then cut an additional 6,100 in other locations by fiscal 2022. The automaker also produces compact vehicle models in its plants in Mexico, Russia, France and Thailand, but there was no specific mention of locations or the scale of reduction involved.

Update 26 July 2019: Indications are that the Sunderland plant will escape the cuts as the company is looking to axe unprofitable models. It also lost ground to the biggest Japanese auto company, Toyota.

Japan's second-biggest carmaker announced the job cuts at the same time as results showing its profit almost erased by falling sales and rising costs in the first quarter.

Nissan has confirmed plans to reduce its production capacity and model range, and axe around 12,500 jobs worldwide, in a bid to turn its fortunes around.

Though he has denied the charges against him, Ghosn's indictments have placed enormous strain on the alliance he created between Nissan, Renault and Mitsubishi Motors. Quarterly sales shrank 13% to 2.37 trillion yen ($22 billion).

"Our situation right now is extremely severe", Hiroto Saikawa, Nissan chief executive, told reporters at the automaker's Yokohama headquarters, noting attractive models were coming with technology like artificial intelligence and zero emissions to boost sales. To do so, Saikawa intends to boost annual USA market sales to 1.4 million vehicles, but also reduce costs the same way General Motors is: layoffs.

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