Overview

• Nissan's Re:Nissan plan targets a reduction of 20,000 jobs, representing 15% of its global workforce, by 2027.
• Seven out of 17 global production plants will be closed, reducing manufacturing capacity by 40%.
• The restructuring includes canceling the planned Kyushu battery facility and simplifying platforms from 13 to 7 to cut costs and streamline production.
• The company reported ¥670.9 billion in net losses for FY24, driven by asset depreciation, rising costs, and falling sales, particularly in China.
• Markets have responded positively to the cost-cutting measures, with Nissan shares rising 5% following the announcement.