Nissan plans 12,500 layoffs after operating profits fall 98 percent

Layoffs — All automakers have been struggling, but Nissan is among the hardest hit. Timothy B. Lee – Jul 25, 2019 3:34 pm UTC Enlarge / Hiroto Saikawa, president and chief executive officer of Nissan, speaks at the company’s headquarters in Yokohama, Japan, on July 25, 2019.Akio Kon/Bloomberg via Getty ImagesNissan says it will reduce…

Nissan plans 12,500 layoffs after operating profits fall 98 percent

Layoffs —

All automakers have been struggling, but Nissan is among the hardest hit.

Timothy B. Lee
– Jul 25, 2019 3:34 pm UTC

Enlarge / Hiroto Saikawa, president and chief executive officer of Nissan, speaks at the company’s headquarters in Yokohama, Japan, on July 25, 2019.Akio Kon/Bloomberg via Getty ImagesNissan says it will reduce global headcount by 12,500 people over the next three years after a brutal quarter that saw net income fall by 95% year over year.
Automakers around the world have been struggling in recent months. Ford said earlier this year that it would cut 12,000 jobs in Europe, while General Motors has announced plans to elim
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