Nissan cuts annual profit outlook by 70%, will ax 9,000 jobs globally
Nissan Motor Co. on Thursday slashed its operating profit outlook for the year ending March by 70 percent and announced a plan to cut 9,000 jobs globally as the Japanese carmaker’s U.S. business continues to struggle.
The company now predicts 150 billion yen ($975 million) in operating profit for fiscal 2024, compared to 500 billion yen forecast in July, on sales of 12.7 trillion yen, also downgraded from 14 trillion yen.
Nissan said it cannot predict net profit, which it said will depend on the ongoing turnaround efforts. It previously forecast a profit of 300 billion yen.
For the first half ended September, its net profit dropped 93.5 percent to 19.2 billion yen on sales of 5.98 trillion yen, down 1.3 percent.
Nissan also said it will sell part of its stake in its alliance partner Mitsubishi Motors Corp.
Related coverage:
Toyota 1st-half global output drops 7% on China, 1st fall in 4 years
Honda autonomous system to allow car drivers to take eyes off road
Toyota global output drops 11.2% in August as quality scandal bites
Related
Here are 12 major companies offering high-paying work-from-home jobs
STATEN ISLAND, N.Y. -- For many job seekers, a work-at-home gig is the ultimate goal. Flexible hours, zero travel expenses and complete autonomy. But the perfec
Guernsey unions criticise proposals on States pay and jobs
BBCThe unions fear public sector recruitment would become harder in GuernseyGuernsey's public sector unions, representing the majority of States employees, have
Hanesbrands Axes 75 Jobs in Distribution Center Closure
Apparel giant Hanesbrands will permanently close its High Point, North Carolina, distribution center on Jan. 31, according to a Worker Adjustment and Retraini
2024 Q3 Job Market Report: Biopharma Professionals Face Heavy Competition…
As biopharma professionals look for their next opportunities in the wake of ongoing layoffs, year-over-year BioSpace data s
