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Home Investing in Stocks Nissan to Cut 20,000 Jobs Amid Financial Struggles

Nissan to Cut 20,000 Jobs Amid Financial Struggles

by Barbara

Nissan Motor plans to cut over 10,000 additional jobs worldwide, bringing the total number of layoffs to approximately 20,000, or 15% of its global workforce, according to a report from Japan’s NHK on Monday.

This comes after the Japanese automaker warned last month of a likely record net loss between 700 billion yen and 750 billion yen ($4.74 billion to $5.08 billion) for the fiscal year ending in March, attributed to impairment charges.

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Nissan is scheduled to release its full-year financial results on Tuesday. The company has not yet commented on the report.

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