Nissan to lay off 9,000 as CEO Uchida unveils survival plan

The automotive industry is facing a deep crisis. Another brand feeling the impact is Nissan. After the Japanese manufacturer ended the last quarter with losses, CEO Makoto Uchida revealed a radical plan for the coming years.

The main component of the program, designed to save a substantial amount of money, is job reductions. Although the company has yet to present an official layoff schedule, the scale of the decision will be significant—around 9,000 employees, representing nearly 7 percent of the brand's global workforce.

Most affected will likely be production workers, as Nissan plans to reduce production capacity while increasing efficiency.

"One specific method for this is to change the line speed and shift patterns, thereby increasing the efficiency of operational personnel," stated Nissan Vice President Hideyuki Sakamoto, as quoted by Reuters.

However, modifying production capacities will not mean giving up on the 30 new or updated models announced last year, although the timelines for some launches may change.

Bold financial decisions will also be made. Nissan plans to sell its 34 percent stake in Mitsubishi. Current stock prices would bring Nissan about 461 million USD, increasing the chances of financial stability during this challenging period.