Japanese car manufacturer Nissan says it is cutting 9,000 jobs worldwide. The company wants to save money after a period in which profits have fallen due to rising costs.
Due to the reorganization, Nissan’s workforce will shrink by approximately 7 percent. The company is also reducing its global production capacity by 20 percent. The measures should reduce fixed costs by 300 billion yen, approximately 1.9 billion pounds.
Car manufacturers worldwide are having a hard time. Volkswagen in Germany, among others, said a reorganization was necessary because profits are falling considerably, and there are fears that factories will close.
Stellantis, the parent company of Fiat, Chrysler, and Peugeot, is also experiencing deteriorating results.