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Nissan to axe 12,500 jobs after first quarter profit drops 98.5%

Video Credit: Wochit News
Published on July 25, 2019 - Duration: 00:32s

Nissan to axe 12,500 jobs after first quarter profit drops 98.5%

On Thursday, Nissan Motor Co said it would slash 12,500 jobs globally by 2022.

Business Insider said Nissan will cut output to rein in costs.

The company is suffering from sluggish sales and rising costs.

It's trying to recover from a scandal surrounding ousted Chairman Carlos Ghosn.

Japan's No.

2 automaker also posted a 98.5% plunge in first-quarter operating profit to $14.80 million.

Nissan had flagged a steep drop in profit on Wednesday.

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Nissan to axe 12,500 jobs after first quarter profit drops 98.5%

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Related news from verified sources

Nissan Motor Co said on Thursday it would slash 12,500 jobs globally by 2022 and cut output to rein in costs as it suffers from sluggish sales and rising costs...
on July 25, 2019 • Reuters

Nissan Motor Co Ltd warned on Wednesday that first-quarter profit tumbled around 90% percent, a day before it is expected to announce more than 10,000 job cuts...
on July 24, 2019 • Reuters

Japanese car maker Nissan Motor Co said it is axing 12,500 jobs and warned a quick turnaround in its performance was not imminent after reporting its quarterly...
on July 25, 2019 • Reuters

Related videos from verified sources

After Nissan, a profit plunge at Renault too 01:15
Video credit: Reuters Studio - Published on July 26, 2019 

Nissan To Cut Over 10,000 Jobs Globally 00:32
Video credit: Wochit - Published on July 24, 2019 

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