There’s nonetheless no finish in sight for Nissan’s struggles. The size of its issues grew to become clear in August 2024, when the corporate’s Q1 report recorded a 99% drop in revenue, and the next quarter confirmed no indicators of enchancment. At that time, Nissan carried out a restructuring plan to create a “leaner, extra resilient” enterprise: a 20% minimize to world capability, 9,000 layoffs, a JP¥300bn (US$2bn) discount in fastened prices, and partial forfeiture of govt salaries. Regardless of these measures, Fitch, Moody’s, and S&P World had downgraded the corporate’s score to ‘junk’ standing by February 2025.
On 13 Might, with new Chief Govt Ivan Espinosa now on the helm, Nissan introduced ‘Re:Nissan’, a brand new restoration plan with the identical core goals because the earlier one launched below Makoto Uchida. Nevertheless, the depth of restructuring has been dialled up: decreasing fastened and variable prices by JP¥500bn, consolidating manufacturing vegetation from 17 to 10, and reducing its whole workforce by 11,000 (along with the earlier 9,000).
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