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Home / Business / It is alleged that Nissan will cut more than 10,000 jobs worldwide

It is alleged that Nissan will cut more than 10,000 jobs worldwide



A general view of the Nissan Crossing showroom in Ginza district on November 21, 2018 in Tokyo, Japan.

Takashi Aoyama | Getty Images News | Getty Images

Japanese car manufacturer Nissan is planning to cut more than 10,000 jobs globally when it appears to be turning its business, Kyodo News reported Wednesday.

These additional job reductions, including early retirement options, come after the automaker said in Kan it happens around 4,800 jobs worldwide, informing the news site and citing company sources. Nissan has around 1

39,000 employees worldwide.

Kyodo also reported that an announcement comes Thursday when Nissan releases revenue for the three months starting April 2019.

A spokesman for Nissan told CNBC that the company did not comment on speculation.

Nissan shares rose 0.85% Wednesday morning in Tokyo.

The company has come under pressure: Nissan reported an annual decline in operating profit of 44.6% over the 12 months ending March 31, 2019. It cited an adverse business climate as car sales fell particularly in the US.

For the current financial year, Nissan has predicted that profits will fall by almost 28%.

Nissan underwent a stir in his leadership after former chairman Carlos Ghosn was first arrested last year over alleged economic misdeeds. Ghosn, who denies the charges, has been accused of abusing corporate funds and underwriting the revenues of the Japanese automaker.

His arrest and subsequent expulsion left Nissan's global alliance with the French automaker Renault on uncertain grounds.

Renault owns 43% of Nissan, which in turn has a 15% non-voting stake in its partner. Nissan allegedly sees the partnership as skewed, and last month, CEO Hiroto Saikawa said he wanted to maintain similarity in the partnership, according to Reuters. For its part, Renault is said to have sought more control within Nissan.

Read the full Kyodo report on Nissan's planned job cuts.


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