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Nissan: considers a major restructuring plan

( - Nissan Motor plans to make over 20,000 redundancies, or about 15% of its global workforce, as part of a restructuring plan due to falling sales, related sources said to Kyodo News.

The group is mainly planning to lay off staff in Europe and some emerging economies in order to streamline their production operations, the sources told the Japanese news agency.

The global spread of coronavirus has led to the closure of Nissan's domestic and foreign plants, putting pressure on its sales in major markets such as North America and Europe, Kyodo reports.

According to the latest forecasts from mid-February, the group expects sales of 10,200 billion yen over the fiscal year (-3.8% from the previous forecast in November), operating profit of 85 billion yen (-43.3%) and net income of 65 billion yen (-40.9%).

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