Nissan is undergoing major restructuring, closing seven factories, which will lead to the loss of 20,000 jobs globally. This decision comes as part of efforts to streamline operations amid declining sales in the US and China and a significant net loss of 671bn yen. CEO Ivan Espinosa is prioritizing profitability over volume in response to rising variable costs and a chaotic market environment. With the company's workforce being reduced by 15%, Nissan aims to save 500bn yen by sourcing parts from fewer suppliers while reassessing its corporate strategies for a robust recovery.
Nissan is facing significant challenges, leading to the closure of seven factories and a total reduction in its workforce by 15%, signaling a critical restructuring effort.
The company's new CEO, Ivan Espinosa, emphasized a shift towards profitability rather than volume, as Nissan navigates an unpredictable market and seeks self-improvement.
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