Jul 25, 2019
Nissan to cut 12,500 jobs worldwide
Japanese car giant Nissan has announced 12,500 job cuts as it attempts to shore up its finances after recent troubles. It will reduce its production capacity by 10% by the end of 2022, but it did not say where the cuts will fall. The firm also announced a 94.5% fall in net income for the first quarter of 2019. This is one of the one of the carmaker's worst quarterly performances in a decade. Nissan continues to struggle in the US, a key market, where it has been heavily discounting to keep up with sales by rivals.
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