Nissan News: Rumorpile: Is Nissan Preparing to Announce Huge Job Cuts?

[Drew Dowdell]

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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[daves87rs]

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

 

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

[smk4565]

All these guys are cutting now.

[David]

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.

[loki]

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

[riviera74]

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.

[riviera74]

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.

[Drew Dowdell]

 

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. 

[David]

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.

[Drew Dowdell]

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. 

[daves87rs]

Also get the sad feeling some models will be on their way out soon as well..... 😞 

[David]

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