London, 07 November (Hindustan Reporter). The world’s leading auto mobile company Nissan Motor will lay off 9,000 employees. It has also announced a cut in the monthly salary of its Chief Executive Officer (CEO).
According to The New York Times, Nissan Motor said today it will lay off 9,000 jobs and reduce its global production capacity by 20 percent. It is noteworthy that Nissan is struggling with weak sales in all its main markets.
The Japanese auto maker’s Chief Executive Makoto Uchida has agreed to take a 50 percent cut in his monthly salary, the company said.
The move comes after a sharp decline in Nissan’s operating profit. It fell 90 percent to $214 million in the first half of the current financial year. Retail sales declined in all the company’s major markets of North America, Japan and China during this period.
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Hindusthan News / Mukund
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