Mega-crash in the car industry! Nissan lays off 9000 employees

Tokyo - The Japanese car manufacturer Nissan will cut 9000 jobs worldwide.

Founded in 1933, the Nissan Group is the third-largest Japanese vehicle manufacturer after Toyota and Hyundai.
Founded in 1933, the Nissan Group is the third-largest Japanese vehicle manufacturer after Toyota and Hyundai.  © Eugene Hoshiko/AP/dpa

In a statement to the Tokyo stock exchange, the Japanese car manufacturer has announced tough cost-cutting measures. Among other things, Nissan will reduce its global production capacities by 20 percent and also reorganize its management.

According to the company, it employs over 134,000 people worldwide.

Nissan has also revised its operating profit forecast for the current financial year downwards from 500 billion yen to 150 billion yen (equivalent to around 905 million euros).

This is already the second reduction in the business outlook this year.

Crisis affects the entire automotive industry

Nissan is currently struggling on the Chinese market in particular. The Japanese company's retail sales in the People's Republic of China slumped by 5.4 percent in the first half of 2024.

Nissan is not the only car manufacturer in crisis. In recent months, a number of manufacturers and suppliers have announced job cuts, such as VW and Schaeffler.