Overview

• Nissan has increased its planned job cuts to 20,000, representing 15% of its global workforce, following weak sales in the U.S. and China.
• The company expects a record net loss of ¥700–750 billion for the fiscal year ending March 2025, driven by asset impairments and restructuring costs.
• Plans for a ¥153 billion EV battery plant in Kyushu, Japan, have been abandoned, halting a project that would have created 500 jobs.
• New CEO Ivan Espinosa is leading the restructuring, which includes workforce reductions, production capacity cuts, and early retirement offers for administrative staff in Japan.
• Nissan will provide further updates on its financial outlook and recovery measures during its full-year results announcement on May 13.