Nissan Motor has lowered its annual profit forecast from 500 billion yen to 150 billion yen due to the deteriorating situation in the US and China. The company plans to lay off 9,000 employees and reduce production capacity by 20%.
On Thursday, Nissan Motor announced a disappointing profit forecast. It is noted that the company has faced a sharp deterioration in the key markets of the United States and China.
Writes UNN with reference to Nikkei Asia.
Nissan Motor's annual operating profit for the fiscal year ending March 2025, as indicated in the report, will be 150 billion yen ($970 million). In the July-September quarter alone, the company posted a net loss of 9.3 billion yen, due to declining profitability in its key markets.
The previous annual forecast was 500 billion yen.
15% are under threat: Audi looks to cut jobs due to falling profitsNovember 7 2024, 12:26 PM • 11215 views
Faced with persistent problems in key markets, including China, Nissan Motor has announced significant job cuts, planning to lay off 9,000 employees, it has been reported today. The Japanese automaker also intends to reduce its global production capacity by 20%.
Trump Media and Tesla shares rise after Trump's second election victoryNovember 6 2024, 01:17 PM • 24670 views
As someone who is responsible for the lives of more than 130,000 employees and their families around the world, I am clearly aware of my responsibility
– said Makoto Uchida, President and CEO of Nissan, during an online press conference on Thursday.
AddendumAddendum
The Japanese company has a production capacity of nearly 5 million vehicles worldwide, and it expects to sell 3.4 million vehicles in the current fiscal year. To improve business in the U.S., he said Nissan plans to add new models.
“Ferrari is flying off the track": shares of the sports car manufacturer lose 5% due to a drop in supplies to ChinaNovember 6 2024, 08:34 AM • 22833 views