Overview

• Nissan will cut 20,000 jobs, equivalent to 15% of its workforce, and close seven of its 17 global plants as part of a recovery plan.
• The automaker reported an 88% drop in operating profit to $472 million and a $4.5 billion net loss for the fiscal year ending March 2025.
• New U.S. tariffs on imported vehicles and parts are projected to cost Nissan $3.1 billion this year, compounding financial challenges.
• CEO Ivan Espinosa plans to refocus on U.S. crossovers and hybrids, including a plug-in hybrid version of the Rogue, while shortening vehicle development cycles.
• Nissan abandoned a $1.1 billion EV battery plant in Japan and faces stiff competition from Chinese EV makers, with China sales down 12% last year.