Ivan Espinosa is mapping a daring route. Nissan Motor’s new CEO, who replaced Makoto Uchida last month, is doubling his predecessor’s planned job cuts and plant closures. Hitting his sales target will be tough in the face of tariffs,

Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

In a recent interview with French business news channel BFM Business, former Nissan CEO and international fugitive Carlos Ghosn described his former employer as a company in “dire straits.” He further stated that he “predicted Nissan ’s decline” and the “demise” of the alliance between it and French automaker Renault.

Nissan Motor unveiled sweeping new cost cuts, saying it would eliminate 11,000 more jobs and close 7 plants, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

TOKYO — Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss for the fiscal year that just ended amid slipping vehicle sales in China and other nations.

Nissan Motor Company reported a net loss of JPY 671 billion (US$4.55 billion) in the 2024 fiscal year (FY2024).

Nissan reported a $4.5 billion loss for the financial year. Renault, which owns almost 36% of Nissan, now expects a $2.4 billion hit in Q1.