Japanese car giant announces mass layoffs ...News

Nissan will slash 9,000 jobs globally as part of “urgent measures” to turn around its performance Japanese car giant Nissan has said it will lay off 9,000 workers globally and trim production capacity by a fifth amid deteriorating sales in its major markets. According to a statement issued on Thursday, the automaker has sharply lowered its annual operating profit outlook by 70% to 150 billion yen ($976 million) in a second downward revision this year. It also announced it will sell back 10% worth of its shares in Mitsubishi Motors, reducing its stake from the current 34%. The company’s CEO and president, Makoto Uc

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