The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.10 - Manufacture of motor vehicles
20,000 jobs Number of planned job losses
Announcement Date
22 May 2020
Employment effect (start)
1 July 2020
Foreseen end date
Description
The Jananese carmakers, Nissan Motor, has announced a reorganisation to cut about 20,000 positions worldwide (15% of its global workforce). The restructuring plan is related to slumping sales amid the COVID-19 pandemic. However, the reorganisation had been in the making for several months. A plant located in Barcelone (Spain) should be closed. The group expect to cut mainly position in Europe and in some emerging economies as well as the realignment of output bases in Japan. This plan would be Nissan's most drastic job reduction since 1999, when the group, taken over by Renault, had cut 20,000 positions. Last year, Nissan announced 9,000 job cuts worldwide by 2023.
The global spread of the novel coronavirus has led to the suspension of Nissan's domestic and overseas plants, pressuring its sales in major markets such as North America and Europe. According to the company, Nissan's sales in the United States had dropped of 29.6 percent the first quarter 2020. In Europe, the drop reached 38.7% for the first four months of 2020 in comparison to the same period in 2019.
Eurofound (2020), Nissan, Internal restructuring in World, factsheet number 100739, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100739.
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