Nissan will close seven car factories along with the dismissal of 15% of employees

Nissan, which is in a difficult position due to falling sales and financial difficulties, will close seven car factories and cut 20,000 jobs (15% of its staff) as part of the largest anti-crisis plan in its history. This was announced at a press conference on May 13 by the head of the concern, Ivan Espinosa, who replaced Makoto Uchida in the spring, Bloomberg reports.

Espinosa said that by fiscal year 2027, Nissan will close seven manufacturing plants out of 17. The annual production capacity will decrease to 2.5 million units (in 2024 it amounted to 3.5 million units). It is not specified which plants will be closed.

The Japanese automaker also reported a net loss of 670.9 billion yen ($4.5 billion) for the fiscal year ended in March. The company did not publish an operating profit forecast for the next fiscal year ending in March 2026.

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On March 26, Nissan announced a number of new models due to debut before 2027, including the new generations of Leaf, Juke and Micra.

On February 13, it was announced that Honda and Nissan had refused to merge into one carmaker, which would have cost $60 billion. During the negotiations, the companies faced a lot of disagreements. In particular, the management of Nissan did not appreciate the idea of becoming a subsidiary of Honda.