Monday, February 9, 2009

Nissan announces 20,000 jobcut

Now it's the turn of another Japanese company to announce Layoff. Japan's Nissan Motor Co said on Monday, that it would cut 20,000 jobs worldwide. It is forecasting a net loss of 265 billion yen in this financial year.
Reason for layoff
Slowdown in the global economy and the strong yen made Nissan to post a net loss of 86.2 billion yen in the third quarter ending December in this fiscal.
Operating loss
Nissan made an operating loss of 99.2 billion yen in the third quarter. And it sold 731,000 vehicles worldwide in the third quarter, down 18.6 percent from a year earlier.
Current workforce of Nissan
Nissan has presently 235,000 global headcount, and is planning to cut 20,000 by March 2010.

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