Nissan Motor Co. Ltd, a Japanese automobile manufacturer, is to lay off more than 10,000 jobs globally, bringing the total job cuts, including previously announced, to 20,000 or 15% of its staff, as per reports on Monday, May 12. In April 2025, the carmaker warned its employees that it would likely book a record 700 billion yen to $4.74 billion to $5.08 billion net loss in the financial year that ended in March due to impairment charges.
Nissan is set to announce its full-year results on Tuesday. The carmaker is facing a financial crisis, which led it to announce 9,000 job cuts in November last year and a nearly 20% global production cut. This comes after US President Donald Trump introduced tariff policy by implementing a 25% increase in taxes on foreign vehicle imports. The tariffs on Japanese imports from the sector were already at 27.5%.
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Nissan has the largest market in the US and often exports from neighbouring countries. This information about the new layoffs that Nissan is considering comes just one day before the automaker presents its financial report for its last fiscal year, which ended on March 31. The company has announced that it estimates it will record net losses of between €4.25 and €4.56 billion in 2025, due to costs related to the restructuring plan and other factors.