Nissan and Stellantis Announce Major Job Cuts Amid Sales Decline

Nissan and Stellantis are reducing their workforce as vehicle sales drop, while the SBA reports a significant increase in small business lending.

Nissan is cutting 9,000 jobs globally, representing about 6% of its workforce, after reporting a $60 million loss in the latest fiscal quarter.
The automaker plans to reduce global production capacity by 20% to address lagging sales and rising costs.
Stellantis will lay off approximately 1,100 workers at its Toledo, Ohio plant due to declining sales of the Jeep Gladiator.
The Small Business Administration backed $56 billion in financing during fiscal year 2024, marking a 7% increase from the previous year.
China's exports surged by 12.7% in October, with significant growth in trade with Russia and the U.S., despite uncertainties over U.S. trade policies.