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Following a net annual loss of $4.5 billion, Nissan has announced its most significant restructuring in decades. The company will shut down seven factories, reduce production capacity, and lay off 20,000 employees worldwide as it scrambles to recover from its worst crisis since the late 1990s.
Japanese automaker Nissan Motor Co. reported a net loss of 670.9 billion yen (about $4.5 billion) for the fiscal year ending in March — the worst result since it was rescued from bankruptcy by French partner Renault in 1999. In response, the company has launched a sweeping restructuring plan centered around plant closures and deep job cuts.
Seven Plants to Close and Production Capacity to Shrink
Nissan plans to shut down seven manufacturing plants worldwide by fiscal year 2027. Its annual production capacity will be reduced from 3.5 million to 2.5 million vehicles. As part of the restructuring, the company will eliminate 20,000 jobs globally, including 9,000 previously announced. These measures are expected to lower costs by 500 billion yen.
New CEO Ushers in a More Aggressive Strategy
New CEO Iván Espinosa, who took over in April, has signaled a more decisive approach compared to his predecessor, Makoto Uchida, who was criticized for not acting boldly enough. “The reality is clear,” Espinosa said during his first press conference. “Nissan must prioritize internal improvement with greater urgency.”
Failed Merger with Honda and a Possible Alliance with Foxconn
Nissan had previously engaged in merger talks with Honda Motor Co., but those efforts collapsed. Now, the company is exploring new partnerships. One potential ally is Taiwan’s Hon Hai Precision Industry Co. (Foxconn), which recently signed a deal with Mitsubishi Motors to assemble electric vehicles. Foxconn has expressed interest in expanding its automotive ventures and has reached out to Nissan.
U.S. Tariffs and Trump’s Trade Policy Add Pressure
Nissan’s recovery efforts face further challenges from trade policies under President Donald Trump. The company estimates that U.S. tariffs on imported vehicles and parts will have a 450 billion yen impact on its finances. Nearly 45% of Nissan’s U.S. sales rely on exports from Japan and Mexico — roughly 420,000 vehicles could be hit by tariffs.
Other automakers such as General Motors, Ford, and Toyota have also reported multi-billion-dollar impacts or withdrawn profit forecasts in response to trade uncertainty.
Renault Also Feels the Financial Shock
Renault, which owns a 36% stake in Nissan, expects a €2.2 billion ($2.4 billion) hit to its first-quarter net income due to Nissan’s restructuring. Despite the setback, Renault and Nissan plan to strengthen their alliance in key markets like Europe, India, and Latin America, while working with Mitsubishi in the U.S. on pickup trucks and EV battery development.
What Does This Mean for Global Jobs?
The elimination of 20,000 jobs is one of the most significant workforce reductions in the global auto industry in recent years. Nissan has not provided a regional breakdown of the layoffs, but they are expected to affect workers across Asia, Europe, and the Americas.
In addition to direct employees, the closures may impact contractors and suppliers that rely on Nissan’s production facilities. While the cuts are designed to make the company leaner and more competitive, they highlight the growing challenges of an industry facing high production costs, disruptive technology, and volatile global markets.
As the transition to electric vehicles accelerates and trade tensions rise, many other automakers may follow suit — potentially putting thousands more jobs at risk worldwide.
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