Nissan is preparing to axe more than 10,000 jobs globally, according to Japanese media. The car maker announced 4800 job cuts earlier this year, as part of an initiative to turn its fortunes round, having suffered its lowest profits for almost ten years. A further announcement is tipped to take place on Thursday. Global sales stagnation in the US and Europe, plus falls in Asia, political uncertainty, tariffs, the need to invest in electrification and autonomy and a part-ageing product line-up, including its successful Qashqai and Juke SUVs, and greater competition from rival manufacturers in the SUV segment have been cited as reasons for Nissan’s profits slump. The reports suggest that the bulk of the losses will fall on workers outside of Japan. Although there have been no specific warnings of losses at Nissan’s UK operations, earlier this year the firm made headlines when it reversed a previous decision to make some X-Trail models at its Sunderland factory. That was said to have led to “hundreds” of new jobs not being created at the plant. At the time it made specific reference to Brexit negotiations undermining the company’s position in the UK, although falling diesel sales and the EU’s tariff-free trade deal with Japan were also believed to be factors. Nissan has also hit the headlines recently with the arrest of former boss Carlos Ghosn, who is now suing the firm for unfair dismissal. The firm has previously committed to making the next-generation Juke – set to be revealed at this year’s Frankfurt motor show – and Qashqai, in Sunderland. In May this year Nissan reported net profits annual profits of 319bn yen (£2.37bn), down 5% on the previous year. This was the lowest figures since 2009/10, in the wake of the global financial crisis. The company has also warned that the current year could be
Origin: Nissan set to cut 10,000 jobs globally, according to reports