Nissan has confirmed it will shut seven factories and cut 20,000 jobs globally in a bid to slash costs.
The Japanese car maker has said it will cut 11,000 more jobs than originally planned, having announced in November that it would axe 9,000 roles in a restructuring.
On Tuesday, the group said its major overhaul will see it reduce its number of plants from 17 to 10 by 2027.
The changes are expected to affect around 15 per cent of the company’s workforce but it is not known where jobs will be cut across its global operations.
Nissan currently employs around 6,000 people with its factory in Sunderland, England.
The firm said the shake-up will help “create a leaner, more resilient business” as it also cautioned over the impact of US President Donald Trump’s plans for 25 per cent tariffs on cars imported into the US.
Nissan president and chief executive Ivan Espinosa said: “In the face of challenging full-year 2024 performance and rising variable costs compounded by an uncertain environment, we must prioritise self-improvement with greater urgency and speed, aiming for profitability that relies less on volume.
“As new management, we are taking a prudent approach to reassess our targets and actively seek every possible opportunity to implement and ensure a robust recovery.
“Re:Nissan is an action-based recovery plan clearly outlines what we need to do now.”
