It's no secret Nissan is struggling to survive. A new report about potential job cuts suggests the situation is even worse than previously thought. Late last year, the Japanese brand said it would slash 9,000 jobs globally over the next couple of years. Now, the final number could be more than double that figure.
According to Nikkei Asia, Nissan will soon announce plans to cut approximately 20,000 jobs, or around 15 percent of its global workforce. The word could come as soon as tomorrow, when the automaker presents its fiscal year 2024 results.
Nissan declined to comment on the increased layoffs when reached by Motor1.
The Japanese carmaker issued a revised outlook for FY2024, which ended on March 31, 2025. The company lowered full-year global sales volume to 3.35 million units and net revenue to 12.6 trillion yen, or approximately $85 billion in US currency. That sounds like a lot of cash, but Nissan is also spending a lot—the automaker anticipates a net loss between 700 and 750 billion yen, or about $5.3 billion before all is said and done.
In a statement on April 24, Nissan's new CEO Ivan Espinosa said the company was revising its outlook based on a thorough review of performance and production assets. However, there's no specific mention of tariff impacts at this time.
"We now anticipate a significant net loss for the year, due primarily to a major asset impairment and restructuring costs as we continue to stabilize the company," Espinosa said. "Despite these challenges, we have significant financial resources, a strong product pipeline and the determination to turnaround Nissan in the coming period.”
Ironically, Nissan is actually selling cars. US sales were up 5.4 percent in 2024, but it required some hefty profit-stealing incentives to make it happen. That strategy continues with the new Nissan One program, giving dealers cash bonuses to meet sales targets—even if it means selling cars at a loss.
Source: Nikkei Asia
