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Nissan Slashing 20,000 Jobs

First Japanese automaker to move production from Japan and soaring yen

By Ambreen Ali,  Newser User

Posted Feb 9, 2009 3:31 AM CST

(Newser) – Nissan will cut 20,000 jobs worldwide by next year and move production from Japan and its soaring yen, reports the Wall Street Journal. Reeling from a massive $900 million loss last quarter, Nissan also announced it will slash management, seek public assistance and suspend its 5% annual growth goal until 2012.

Japanese car makers have enjoyed growth in the US market as Detroit declined, but now they're suffering, too.
Japanese car makers have enjoyed growth in the US market as Detroit declined, but now they're suffering, too.   (AP Photo/David Zalubowski, file)
Nissan's CEO, celebrated for saving Nissan from the brink of collapse, faces increased pressure as the company downsizes.
Nissan's CEO, celebrated for saving Nissan from the brink of collapse, faces increased pressure as the company downsizes.   (AP Photo/Hassan Ammar/file)
Nissan plans to slash 20,000 jobs worldwide. Half of them are in Japan.
Nissan plans to slash 20,000 jobs worldwide. Half of them are in Japan.   (AP Photo/Katsumi Kasahara)
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COMMENTS
Showing 2 of 2 comments
Shannonals
Feb 12, 2009 4:00 AM CST
Worldwide, the economy is hurting everyone
bacimom
Feb 8, 2009 9:04 PM CST
Oh well let us await The Cracker Confederacy of America's obstructionist senators proclamation that they and their right to work states aren't to be bothered by the rest of the country and their job problesm.

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