Nissan Motors announced that it is considering cutting 20,000 jobs from its global workforce.
Reuters quoted Japan’s Kyodo news agency on Friday that the move was aimed at European and developing countries, as April prepared to announce an updated version of its medium-term strategy, next week.
The agency added that the company’s profits have declined over the past three years, and the repercussions of the emerging Corona virus pandemic have increased pressure to reduce labor and cause a shift in the company.
AFP 2020 / YOSHIKAZU TSUNO
In July last year, the company said it would cut 12,500 jobs, about 10% of its 140,000 workforce.
Reuters reported that the Nissan administration has become convinced that it needs to be much smaller, and that it will reduce at least a million cars from its annual sales target, while looking to a greater role in the United States and China in car sales.
She added that “Nissan” plans to reduce its European activity and shift its focus to SUVs and commercial vehicles.