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Nissan's CEO Announces 20,000 Job Cuts Amid 670B Yen Loss

6/26/2025

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Summary

Story summary

Nissan Motor's CEO Ivan Espinosa faced shareholders in Yokohama, expressing regret over a staggering 670 billion yen loss in fiscal 2024. In a bold move to stabilize the company, he revealed plans to slash 20,000 jobs and shutter seven factories. While shareholders welcomed new board members, they voiced discontent over hefty payouts to former executives during these tough times.

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Story summary

Nissan Motor's CEO Ivan Espinosa faced shareholders in Yokohama, expressing regret over a staggering 670 billion yen loss in fiscal 2024. In a bold move to stabilize the company, he revealed plans to slash 20,000 jobs and shutter seven factories. While shareholders welcomed new board members, they voiced discontent over hefty payouts to former executives during these tough times.