Japanese automaker Nissan plans to cut more than 10,000 jobs globally as it looks to turn around its business, Japanese media said.
Those additional job reductions, which include early retirement options, come after the automaker said in May it will trim about 4,800 jobs globally. Nissan has about 139,000 employees around the world.
An announcement is coming on Thursday when Nissan releases earnings for the three months starting April 2019.
The company has come under pressure: Nissan reported a 44.6% annual decline in operating profit for the 12 months that ended on March 31, 2019. It cited an unfavorable business climate as car sales fell notably in the United States and Europe. It has also been facing tensions with its French partner Renault.
“We’ve not decided yet what we’ll announce (at the Thursday earnings press conference), and we don’t comment on (media) speculation,” Nissan spokesman Koji Okuda told International new channel.
The cuts are likely to hit some factories in South America and other regions where Nissan has low profitability.
In May, net earnings for the year through March 2019 were 319 billion yen ($ 2.9 billion), the lowest since 2009/10, as the company had global financial crisis difficulties.
It was a decline of 57 percent compared to the previous fiscal year and the profit outlook for the current fiscal year was forecast to be even worse — at 170 billion yen.
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