Nissan to reduce its workforce by 15 per cent

• Nissan Motor Corp reported a $4.5 billion loss for the fiscal year ending March.
• The company is initiating global job cuts, aiming to reduce its workforce by 15 per cent, as part of a wider restructuring effort.
• Discussions are set to begin this week regarding potential voluntary job cuts at Nissan's Sunderland plant in England, with reports suggesting around 250 positions could be affected.
• The cuts are intended to make the Sunderland facility, which is critical to Nissan's European operations, "leaner and more flexible," though the plant is not slated for closure.
• Nissan is also seeking to boost cash flow by asking some suppliers to delay payments and is targeting 250 billion yen in cost savings, while also cautioning about the impact of US President Donald Trump's proposed tariffs on imported cars.

IN FULL

Nissan looks to axe hundreds of jobs at Sunderland plant