Nissan to cut 12,500 jobs worldwide

Japan Automaker Nissan is planning to slash more jobs in its three plants due to low demand amid the novel coronavirus pandemic.

According to details, the ongoing pandemic has forced the Auto maker to cut jobs in three Japanese plants, as the automaker struggles to recover from a drop in sales.

Japan Automaker speculates to cancel all night shifts at its plant in Oppama, Kanagawa prefecture, and at a production line in Kyushu, southern Japan, between June 29 and July 31.

In April this year Nissan Motor Company drafted a new plan to become more cost-efficient auto maker after the pandemic aggravate a slide in profitability that culminated in its first annual loss in 11 years.

Nissan Chief Executive Makoto Uchida said “I will make every effort to return Nissan to a growth path,”

In addition to this “We must admit failures and take corrective actions,” he said.

Furthermore Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4pc.