In order to tackle substantial market issues, Nissan Motor Company has announced a massive restructure. The corporation plans to lower global production by 20% and lay off 9,000 employees. According to a Reuters story, Nissan lowered its yearly profit prediction because of difficulties in the US and China.
According to Makoto Uchida said: "Nissan will restructure its business to become leaner and more resilient, while also reorganising management to respond quickly and flexibly to changes in the business environment."
In the first half of the fiscal year, global sales decreased 3.8% to 1.59 million vehicles, with a 14.3% decline in China, according to a Reuters article. This is a result of fierce rivalry from regional producers in the quickly expanding EV market. Sales in the US decreased by 3% to 449,000 cars. Nissan's global volume is almost entirely accounted for by these two markets.
