Get all your news in one place.
100's of premium titles.
One app.
Start reading
International Business Times
International Business Times
Business

Nissan Posts $4.5 Billion Annual Net Loss, Says To Cut 20,000 Jobs

Like many peers, Nissan is finding it difficult to compete against Chinese electric vehicle brands (Credit: AFP)

Japan's Nissan posted a huge annual net loss of $4.5 billion on Tuesday while confirming reports that it plans to cut 15 percent of its global workforce and warning about the possible impact of US tariffs.

The carmaker, whose mooted merger with Honda collapsed earlier this year, is heavily indebted and engaged in an expensive business restructuring plan.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.