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Massive Loss: Japanese carmaker Nissan Motor reported a staggering ¥670.9 billion ($4.5 billion) loss for the fiscal year ending March 2025, a sharp decline from the previous year’s profit of ¥426.6 billion.
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Job Cuts: The company plans to cut approximately 20,000 jobs, about 15% of its global workforce, to streamline operations.
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Plant Closures: Nissan will shut down 7 of its 17 manufacturing plants, reducing the total to 10 worldwide.
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Market Struggles: Declining vehicle sales, especially in key markets like China and the U.S., have significantly impacted revenues.
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Strategic Shift: CEO Ivan Espinosa emphasizes a disciplined approach to align production with market demand and enhance partnerships.
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👉 Why this matters: These drastic measures highlight the challenges traditional automakers face amid shifting market dynamics and the push towards electric vehicles.
🔗 Source: Times of India
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🖋️ Written and summarized by our editorial team using AI assistance and human review.
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