Japan's Nissan Motor will lay off over 10,000 jobs worldwide over the next several years due to sluggish sales, NHK reported on Wednesday.
The announced number includes the 4,800 job cuts reported in May and accounts for more than seven percent of Nissan's total workforce. Many will be at factories overseas, according to NHK.
Meanwhile, Nissan is set to report a 90-percent-drop in its fiscal first-quarter operating profit to several billion yen, down from 109.1 billion yen (one billion U.S. dollars), Nikkei reported.
Nissan's profits in 2018 fell by 40 percent compared with the previous year, reporting the lowest earnings in 11 years.
In the previous fiscal year ending in March, the carmaker's global vehicle sales shed 4.4 percent to 5.52 million units. Sales in the U.S. dropped 9.3 percent and those in Europe fell 14.9 percent, Nissan announced in May.
The carmaker is trying to rebuild its reputation and carry out restructuring, after the arrest of former Chairman Carlos Ghosn charged with financial misconduct last November.
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3