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- Nissan doubles job cuts to 20,000, shrinking global workforce by 15% – report
Nissan doubles job cuts to 20,000, shrinking global workforce by 15% – report
The automaker is facing significant losses and rising debt liabilities. (2 min. read)
Anna del Villar
May 12, 2025
Looks like Nissan just went from "restructuring" to "complete overhaul."
Driving the news: What started as 9,000 job cuts back in November has now ballooned to a whopping 20,000 positions getting the axe, according to NHK, Japan’s public broadcasting corporation.
Why it matters: For a while, the company has watched its U.S. market share slide as competitors refreshed their lineups while Nissan's lineup has aged. The automaker also missed the hybrid boom that competitors capitalized on, struggled to maintain relevance in China against surging local brands, and now faces additional pressure from auto tariffs.
Zooming out: New CEO Ivan Espinosa, who took the helm just last month, faces the immediate challenge of rolling out these expanded measures.
Nissan has already announced the closure of its Thailand plant by June, with two additional facilities still to be identified for shutdown.
The company has also decided not to proceed with a planned $1.1 billion EV battery factory in Japan, despite having secured government support for the project.
For context: Nissan faces $1.6 billion in debt payments this year. And total debt obligations will eventually grow to $5.6 billion by 2026 (the highest level in nearly three decades), according to data compiled by Bloomberg. On top of that, Nissan has cut its profit outlook four times during its last fiscal year (that ended in March), showing just how quickly conditions have deteriorated.
What we're watching: The company declined to comment ahead of its Tuesday earnings announcement, where it's expected to report a net loss of 700-750 billion yen ($4.7-5.1 billion) for the fiscal year.
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