Nissan to lay off another 10,000 workers worldwide

Nissan plans to lay off another 10,000 employees globally, bringing its workforce cuts to around 20,000, or 15% of its workforce, Japanese radio station NHK reported Monday.

The Japanese automaker announced in November that it would cut 9,000 jobs following a drop in sales in the US and China, which led to a 94% drop in net revenue in the first half of the year. The layoffs will occur both in Japan and abroad.

In February, the company announced it would implement a cost-cutting and stabilization program, including a reduction in fixed expenses and staff by 2026. It also decided to remove Makoto Uchida as CEO, due to poor financial results and also, apparently, due to his opposition to the Japanese government's merger plans with Honda. Mexican Ivan Espinosa has taken his position since April 1.

Nissan's crisis risks worsening further after the company warned shareholders last month that it will suffer a net loss in restructuring costs of up to 750 billion yen (about €5 billion) for the fiscal year ending March 2025.