Free Nissan confirms plans to cut ‘roughly 12 500’ jobs after profits plunge Miami
- Location: Miami, Miami, Florida, USA
Nissan has confirmed it plans to cut “roughly 12 500” jobs as it reduces its global production capacity after its quarterly operating profit plunged 98,5 percent.
The Japanese firm announced its financial results for the three-month period ending June 30 in a press statement.
It said it generated an operating profit of 1,6-billion yen (down nearly 99 percent, year on year) on net revenues of 2,37-trillion yen, equivalent to an operating margin of 0,1 percent. Quarterly net income, meanwhile, fell by 94,5 percent to 6,4-billion yen.
The company said it was “implementing strategic reforms in order to build an operational base that will ensure consistent and sustainable profitability over the medium term”.
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