Overview

• Nissan has announced plans to eliminate 20,000 jobs worldwide, representing 15% of its workforce, including 11,000 additional cuts beyond the 9,000 layoffs announced in November 2024.
• The company is abandoning its $1.1 billion electric vehicle battery plant in Kyushu, Japan, which would have created 500 jobs, as part of its cost-cutting measures.
• Nissan is forecasting a record net loss of ¥700–750 billion ($4.7–$5 billion) for the fiscal year ending March 2025, driven by asset impairments and restructuring costs.
• The automaker is offering early retirement to several hundred administrative staff in Japan, marking its first such program in 18 years.
• CEO Ivan Espinosa, appointed last month, is leading a sweeping restructuring plan to address declining sales in the U.S. and China and intense competition in the EV market.