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Nissan to cut 20,000 jobs
- Middle East: Tuesday, February 10 - 2009 at 13:31
Japan's Nissan Motor Co said yesterday it would cut 20,000 jobs after forecasting its first loss in nine years. The company said it expects an operating loss of 180 billion yen ($1.97bn) in the year to March 31 and a net loss of 265 billion yen to pay for a series of steps to weather the worst downturn in the global car market in decades. The company also said it may shift production of 130,000 vehicles and 120,000 powertrain units from Japan overseas over the next two fiscal years.
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Jeff Florian, Senior ReporterTuesday, February 10 - 2009 at 13:31 UAE local time (GMT+4)
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