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  • Drew Dowdell
    Drew Dowdell

    Rumorpile: Is Nissan Preparing to Announce Huge Job Cuts?

      ...as profits plummet, job huge job cuts could be coming...

    Rumor has it that that Nissan is about to report that its first-quarter profit fell by nearly 90%. Nissan has yet to recover from the financial scandal caused by Carlos Ghosn.  Additionally, years of chasing volume over profits in the U.S. has damaged the brand, requiring heavy discount and cheap financing to move metal. Investors are also worried that the alliance with Renault is breaking down.  Friction with France's Renault over the failed merger with Fiat-Chrysler Automobiles has brought tensions between the two companies to an all-time high.

    Reports are that due to the falling profits, Nissan will be cutting up to 10,000 jobs, primarily in Asia and South America.  In doing so, Nissan would join the ranks of Mercedes-Benz, Ford, Honda, and others with global layoffs in the five digit range. Nissan/Infiniti sales in the US are down 8.9 percent year to date as of June. 



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    Would suck for sure. Wanna see them recover and keep fighting here....

     

    It is the start of very tough times for all....

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    Welcome to the global recession start. Expect job cuts in many countries world wide of basic worker assembly line jobs to manual labor day jobs. 

    Time for the world to take a break and focus on reduction of debt. This is going to hurt many.

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    3 hours ago, dfelt said:

    Welcome to the global recession start. Expect job cuts in many countries world wide of basic worker assembly line jobs to manual labor day jobs. 

    Time for the world to take a break and focus on reduction of debt. This is going to hurt many.

    A LOT of companies can stand to reduce debt, especially financial ones.  Our Government(s) too could stand a debt diet.

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    7 hours ago, daves87rs said:

    Would suck for sure. Wanna see them recover and keep fighting here....

     

    It is the start of very tough times for all....

    They would need to improve their infotainment systems (especially at Infiniti) first.

    As for the question posed: Absolutely they will announce big job cuts.  Shareholders are never satisfied until all revenue = profits.

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    17 hours ago, loki said:

    the best thing they have is the VC turbo....and the seats?

    I wasn't that impressed with the VC Turbo, but it's main claim to fame is that it's supposed to get really good fuel economy when cruising but greater power when accelerating hard. I didn't get enough time with it to test that. 

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    BBC is reporting that Nissan has finalized the cuts as 12,500 jobs globally on top of assembly plant closures. 6,400 lay offs have already happened at eight locations. The rest will be done by the end of the year. They also plan to shed an additional 6,100 global jobs between 2020 and 2022 at six additional locations.

    https://www.bbc.com/news/business-49109307

    This is in addition to reporting a 94.5% drop in net profit for Q1 of 2019, worst in decades. UK Sunderland is hoping to avoid job cuts but Nissan has announced that the new X-Trail auto will be built in Japan and exported rather than in the UK due to the Brexit uncertainty.

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    18 minutes ago, dfelt said:

    BBC is reporting that Nissan has finalized the cuts as 12,500 jobs globally on top of assembly plant closures. 6,400 lay offs have already happened at eight locations. The rest will be done by the end of the year. They also plan to shed an additional 6,100 global jobs between 2020 and 2022 at six additional locations.

    https://www.bbc.com/news/business-49109307

    This is in addition to reporting a 94.5% drop in net profit for Q1 of 2019, worst in decades. UK Sunderland is hoping to avoid job cuts but Nissan has announced that the new X-Trail auto will be built in Japan and exported rather than in the UK due to the Brexit uncertainty.

    Yes, It's in my report above. 

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    1 hour ago, Drew Dowdell said:

    Yes, It's in my report above. 

    LOL, so behind this morning, totally missed your story when I posted my post. Thank you Drew :D 

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      January 3, 2020
       
      2019
      2018
      % chg
      Total December sales (units)
      104,781
      148,720
      -29.5
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      93,538
      130,655
      -28.4
      INFINITI sales*
      11,243
      18,065
      -37.8
       
       
       
       
      Calendar Year Total Sales (units)
      1,345,681
      1,493,877
      -9.9
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      1,344,597
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      NASHVILLE, Tenn. – Nissan Group announced total U.S. sales for December 2019 of 104,781 units, a decrease of 29.5 percent versus the prior year. Nissan Group also announced total calendar year 2019 U.S. sales of 1,345,681 units, a decrease of 9.9 percent compared to the prior year.
      Nissan Division December highlights:
      Altima sales continue to rise with 19,132 units sold, up 12 percent. Sales of the Nissan Armada rose 3 percent in December to 2,967 units. Nissan Division calendar year highlights:
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      NOTE: To ensure consistency in global sales reporting, Nissan North America calculates monthly variances on a straight-percentage basis, unadjusted for the number of selling days. December 2019 had 25 days, while December 2018 had 26 selling days.
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      DECEMBER
      DECEMBER
      Monthly
      CYTD
      CYTD
      CYTD
      2019
      2018
      % chg
      2019
      2018
      % chg
       
       
       
       
       
       
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      130,655
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      6,735
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      11,033
      17,567
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      5,600
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      1,227
      1,667
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      4,661
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      31,514
      50,459
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      5,894
      6,799
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      65,691
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      32,044
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      27,331
      42,523
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      412,110
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      5,187
      8,033
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      68,361
      83,547
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      0
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      3
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      1,719
      2,013
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      18,768
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      35,466
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      33,960
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      257,410
      322,457
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      175
      232
      -24.6
      2,726
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      19,853
      33,728
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      197,372
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      2,552
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    • By Drew Dowdell
      Nissan is forcing employees to go without pay for two days at the beginning of January 2020 by remaining closed on the 2nd and 3rd of January. The move equates to a 9.2% pay cut for those paid monthly.  In addition to the pay cuts, Nissan is cutting travel expenses by half effective immediately. All of Nissan's US operations, including Infiniti an Nissan Motor Acceptance Corp, the company's in house financing unit are included in the shut down. 
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      View full article
    • By Drew Dowdell
      Nissan is forcing employees to go without pay for two days at the beginning of January 2020 by remaining closed on the 2nd and 3rd of January. The move equates to a 9.2% pay cut for those paid monthly.  In addition to the pay cuts, Nissan is cutting travel expenses by half effective immediately. All of Nissan's US operations, including Infiniti an Nissan Motor Acceptance Corp, the company's in house financing unit are included in the shut down. 
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    • By Drew Dowdell
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      Monthly
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      2018
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      1,134,435
      1,213,942
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      5,122
      -44.8
      63,331
      69,074
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      11,546
      12,721
      -9.2
      173,585
      195,479
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      16,551
      12,077
      37.0
      190,051
      192,082
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      2,273
      2,530
      -10.2
      31,689
      36,737
      -13.7
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      1,140
      1,128
      1.1
      11,138
      13,048
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      4
      -100.0
      11
      726
      -98.5
      370Z
      159
      271
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      2,226
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      16
      23
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      34,510
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      4,032
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      17,608
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      4,932
      6,278
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      67,649
      72,154
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      2,052
      3,845
      -46.6
      29,598
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      59,797
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      29,077
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      23,734
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      323,116
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      5,349
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      63,174
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      18,303
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      6
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      # # #
    • By Drew Dowdell
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