Nissan to layoff 20,000 jobs worldwide
TOKYO, Feb 9 (KUNA) -- Japan's third-largest automaker Nissan Motor Co. said Monday it will layoff some 20,000 jobs around the world by March 2010 after expecting a net loss in fiscal 2008 ending March 31.
The jobs, which amount to 8.5 percent of its worldwide work force, will reduce Nissan's employees from 235,000 to 215,000 amid the current global economic and financial crisis, the Tokyo-based company said in a statement.
The car maker expects to post a net loss of JPY 265 billion (USD 2.91 billion) for the current business year, compared with JPY 160 billion (USD 1.
76 billion) in profit projected in October.
It will be the first loss since President Carlos Ghosn became the firm's chief executive officer in 1999, when France's Renault SA entered a capital tie-up with Nissan.
It also reported a net loss of JPY 83.2 billion (USD 914 million) for the October-December quarter, driven by the severe downturn in the global economy, in particular, the negative impact of the strong yen, the sharp decline in consumer confidence in all major markets, it said.
Toyota Motor Corp. the world's No.1 automaker, also said last week that it forecasts a JPY 350 billion (USD 3.84 billion) group net loss for the year ending March 31.
The jobs, which amount to 8.5 percent of its worldwide work force, will reduce Nissan's employees from 235,000 to 215,000 amid the current global economic and financial crisis, the Tokyo-based company said in a statement.
The car maker expects to post a net loss of JPY 265 billion (USD 2.91 billion) for the current business year, compared with JPY 160 billion (USD 1.
76 billion) in profit projected in October.
It will be the first loss since President Carlos Ghosn became the firm's chief executive officer in 1999, when France's Renault SA entered a capital tie-up with Nissan.
It also reported a net loss of JPY 83.2 billion (USD 914 million) for the October-December quarter, driven by the severe downturn in the global economy, in particular, the negative impact of the strong yen, the sharp decline in consumer confidence in all major markets, it said.
Toyota Motor Corp. the world's No.1 automaker, also said last week that it forecasts a JPY 350 billion (USD 3.84 billion) group net loss for the year ending March 31.
<< Home