Nissan to cut 20K jobs, or 15% of global workforce

Nissan logo at the wall of car dealer's building. Nissan Motor Company Ltd is a multinational car manufacturer headquartered in Yokohama, Japan.
20,000 jobs to be cut FILE PHOTO: Nissan plans to cut 20,000 jobs worldwide. The cuts include 9,000 announced last year. (Oliver Hoffmann/eyewave - stock.adobe.com)

Nissan has announced plans to slash tens of thousands of jobs, which will account for about 15% of its global workforce.

In addition to the job cuts, it will also close seven of its 17 auto plants.

The company said it is a recovery plan that will “enhance performance and create a leaner, more resilient business that adapts quickly to market changes,” The Associated Press reported.

Nissan did not specify which plants would close, only to say some are located in Japan.

NHK, Japan’s national media, said that the cuts would happen both in Japan and in other countries, Bloomberg reported.

The company has manufacturing plants in Japan, Mexico and the U.S.

In the U.S., the plants are located in Canton, Mississippi; Smyrna, Tennessee; and Decherd, Tennessee, with 15,000 people working in three plants. There are also 11 distribution centers in the country, according to company data. The centers are located in Somerset, New Jersey; Baltimore, Maryland; Memphis, Tennessee; Mt. Juliet, Tennessee; Lebanon, Tennessee; Greenville, South Carolina; Orlando, Florida; Chicago; Sacramento, California; Riverside, California and Dallas.

The 20,000 cuts will be completed by March 2028 and include the 9,000 layoffs already announced in November, Bloomberg reported.

The company had already announced it was not going to build a battery plant in Japan. The plant would have been a $1.1 billion investment, according to Reuters.

In addition to the job cuts, it also planned to reduce global capacity by 20%, Reuters reported.

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