Besieged Auto Industry Sheds 20,000 More Jobs, This Time At Nissan

[Earth Bound Misfit]

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Source: Workers Independent News

Job news on the auto industry front continues to be stormy. Jesse Russell reports:

Nissan Motor Company has joined its American counterparts by announcing massive layoffs company wide. The Japanese automaker announced on Monday that it will likely be slashing 20,000 workers to cope with plunging auto sales. The job cuts amount to 8.5 percent of the company’s worldwide workforce. 12,000 jobs cuts will be in Japan with the rest come from overseas. The company had previously offered early buyouts to 1,200 U.S. workers and will likely increase that offer with this recent job cuts announcement. Manager salaries at the company will be reduced by 5 percent while those of corporate officers will be cut by 10 percent. Nissan is Japan’s third largest automaker and this is the first time the company has projected a loss since 2000.



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