Tue May 13 11:10:00 UTC 2025: ## Nissan Announces Massive Job Cuts and Plant Closures in Restructuring Plan
**TOKYO (AP)** — Nissan Motor Corp. announced a drastic restructuring plan Tuesday, revealing a net loss of ¥670.9 billion ($4.5 billion) for the fiscal year ending March 2025 and outlining plans to cut approximately 20,000 jobs globally—around 15% of its workforce—and consolidate its auto plants from 17 to 10.
The Yokohama-based automaker cited declining vehicle sales in China and other markets, along with significant restructuring costs, as contributing factors to its substantial loss. The company’s latest quarter (ending March 2025) alone saw a loss of ¥676 billion ($4.6 billion). CEO Ivan Espinosa stated that the company faces a “mountain to climb,” emphasizing the need for discipline and teamwork to achieve a turnaround. The job cuts, to be completed by March 2028, include 9,000 positions already slated for reduction. The plan also involves scrapping the construction of a planned battery plant in Japan.
Espinosa, who assumed his role earlier this year, highlighted a comprehensive review of operations to align production with demand and leverage existing partnerships with Renault SA in Europe and Dongfeng Nissan in China. He attributed some of the losses to the impact of U.S. President Donald Trump’s tariffs on auto imports.
The restructuring plan also aims to reduce costs by ¥500 billion ($3.4 billion). While the company aims to return to profitability by fiscal year 2026, Nissan’s CFO, Jeremie Papin, acknowledged the significant challenges ahead, and the company refrained from providing a profit projection for the next fiscal year due to ongoing uncertainties. The specific plants slated for closure were not identified, but the company confirmed that some Japanese factories will be affected.
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