PREVIEW

Nissan Slashes Jobs and Shutters Plants in Major Restructuring. Nissan is cutting 20,000 jobs, closing seven plants, and freezing all projects beyond 2026 as part of a major global restructuring effort. The moves, announced on May 13, build on previous plans to cut 9,000 jobs, close three plants, and reduce production by 20%. Nissan is facing a £3.8 billion net loss for the 2024/25 financial year. CEO Ivan Espinosa blamed rising costs and market uncertainty for the company’s struggles, outlining a plan to return to profitability by 2026.To achieve this, Nissan aims to save £1.3 billion by 2027, with the majority of cuts coming from manufacturing, administrative, and R&D roles. The company has confirmed that one of the factories being closed is a planned battery plant in Japan while the future of its UK Sunderland plant, home to 6,000 employees, remains uncertain.
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