Nissan is set to cut around 11,000 more jobs across the globe, bringing its total number of layoffs to a massive 20,000, Japan’s public broadcaster NHK reported on Monday.
Nissan had previously planned on cutting 9,000 jobs on weak business. With the latest reported development, the Japanese carmaker is likely to see a 15 per cent reduction in its total workforce around the globe, as per Reuters.
The company had in November said it would cut 9,000 positions after weak sales in the US and China in the first half of the financial year. That time, the company had seen a 94 per cent drop in its net income, as per Bloomberg.
Nissan likely to see record loss
Nissan is set to announce on Tuesday results for the business year that ended in March.
The company warned last month it would likely book a record 700 billion yen to 750 billion yen ($4.74 billion-$5.08 billion) net loss in that year due to impairment charges.
(This is a developing story. Check back for updates)
