Nissan increases job cuts to 20K by 2027

Japanese carmaker Nissan has increased its planned job cuts by 11,000 as part of its recovery plan "Re-Nissan." 

The company now plans to slash a total of 20,000 positions by 2027. 

The company described fiscal year (FY) 2024 as a "challenging" period and noted that "rising variable costs, compounded by an uncertain environment" forced it to consider further cuts. Nissan aims to save nearly $3.4 billion (500 billion yen) compared to FY 2024 through its "Re-Nissan" program, according to a press release.