Nissan to cut 20,000 jobs
09-02-2009
Nissan is to cut 20,000 jobs worldwide, 8.5 percent of its workforce, over the next year because of a sharp fall in sales. The Japanese carmaker made the announcement as it said it expected to make a loss of nearly US$3-billion for the current financial year.
Nissan chief executive Carlos Ghosn said the the firm's "worst assumptions on the state of the global economy have been met or exceeded".
"The global auto industry is in turmoil. Nissan is no exception."
Sales slump
