Overview

• Nissan will reduce its workforce by 15%, cutting 20,000 jobs globally, including previously announced layoffs, as part of a major restructuring plan.
• The company plans to close seven factories, reducing its production sites from 17 to 10 by fiscal year 2027, to align capacity with demand.
• Nissan reported a net loss of 671 billion yen ($4.5 billion) for fiscal year 2024-25, its worst financial performance in over two decades.
• The restructuring aims to achieve 500 billion yen ($3.4 billion) in cost savings through workforce reductions, factory closures, and operational streamlining.
• New CEO Ivan Espinosa emphasized a shift from volume-driven strategies to profitability-focused operations, citing challenges from U.S. tariffs and fierce competition in China.