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4d ago

Nissan Unveils Sweeping Restructuring Plan to Combat $4.5 Billion Loss

CEO Ivan Espinosa announces plant closures, job cuts, and a revised product strategy to stabilize the automaker amid tariff pressures and declining sales.

The Nissan logo is displayed, at the 46th Bangkok International Motor Show in Bangkok, Thailand, March 24, 2025. REUTERS/Chalinee Thirasupa/File Photo
Japan's three largest car makers—Toyota, Honda, and Nissan—had difficult earnings reports amid industry headwinds.
Nissan's former CEO shared his thoughts on the company's recent struggles.
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Overview

  • Nissan will cut 20,000 jobs globally, reducing its workforce by 15% as part of a recovery plan aimed at addressing financial losses.
  • The company plans to close seven manufacturing plants, reducing its total facilities from 17 to 10, including closures in Japan.
  • Nissan reported a $4.5 billion net loss for the fiscal year ending March 31, with an 88% drop in operating profit to $472 million.
  • President Trump's 25% tariffs on imported vehicles and parts have significantly increased costs, contributing to declining profitability in the U.S. market.
  • CEO Ivan Espinosa has pledged to accelerate vehicle development and focus on crossovers, SUVs, and hybrids, including a plug-in hybrid Rogue for the U.S. market.