Nissan lays off 9,000 workers and cuts production

Japanese automaker Nissan has announced a turnaround program that includes a significant reduction in staff and production lines.

According to the program, 7% of the corporation’s employees will be laid off – about 9,000 people. In addition, the corporation’s car production volumes will be reduced from 3.45 million cars per year to 3.2 million cars.

Also among the recovery measures are a 50% reduction in the CEO’s salary and the sale of part of the concern’s shares in another manufacturer, the Mitsubishi concern.