Part 5/8:
Shuttering Operations and Workforce Reductions
Amidst the chaos, Nissan has announced multiple factory closures and intends to reduce its workforce by nearly 10,000 employees in an effort to cut costs and regain profitability. The company has forecast losses of approximately $500 million in the last financial year, further underscoring the depth of its financial crisis. As competition heats up, particularly from rising Chinese electric vehicle manufacturers that offer appealing products at competitive prices, Nissan risks a significant decrease in market share if it cannot adapt.