• Feb 9, 2009
Nissan hasn't posted an annual loss in nine years, but the automaker is poised to take a big hit on its 2008 earnings, and like the rest of the industry, it is scrambling to restructure. The Japanese carmaker is expected to report a $2.9 billion shortfall, prompting Carlos Ghosn and his team to chop 20,000 jobs – fully 8.5 percent of its employees worldwide. Some of the job losses will be arrived at through early retirement packages and the ending of temporary worker contracts, but most will be out-and-out layoffs. The personnel cuts will leave Nissan with 215,000 workers globally and take place now through March of 2010.

Nissan's planned cuts are markedly more aggressive than those employed by other Japanese automakers, suggesting that Japan's third-largest automaker is even more pessimistic about the potential for near-term economic gains. That appears to be particularly true in its domestic market, where the strong Yen and other factors have conspired to result in 12,000 of the planned job losses. Thanks for the tip, Karen!

[Source: Associated Press via ClockOnDetroit | Image: Akihiro I/Getty


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  • 22 Comments
      • 5 Years Ago
      I blame the unions.


      (This is my third time posting this. But other times I got a message saying I can confirm my post via email, yet I didn't get an email.)
      • 5 Years Ago
      I just came across a very helpful website on the current economic downturn and employment: http://www.recessioninfocenter.com
      • 5 Years Ago
      How about abandoning the truck business once and for all, and focus the resources on something that has a better ROI?

      For example,

      1) speed up the production of the GT-R to meet demands.
      2) build a more affordable version of the GT-R, say without the twin-turbo.
      3) build a 4-door GT-R. Porsche's doing it with that ugly Panamera. So, why not?


      Might also want to kill some models to cut costs:

      1) The Quest has never been a good selling model, kill it.
      2) I don't really see the point of the Rogue and Murano when you have the Xterra and Pathfinder which are in the same price range.
      3) Keep the Altima and kill the Maxima. Don't see the point of a $30k Maxima when I can get the G sedan for $35k.
      4) Again, kill the Armada, Frontier and the Titan. Really, no one wants them.
        • 5 Years Ago
        Sorry, I meant the G37x.
        • 5 Years Ago
        RE Cut #2 - The Rogue and Murano actually sell very well and are car based "crossovers" with good fuel economy. The Xterra and Pathfinder aren't selling well at all and are truck based "SUVs" with terrible fuel economy. So tell me again which two you want to cut?
        • 5 Years Ago
        "2) build a more affordable version of the GT-R, say without the twin-turbo."

        Done. Got get your checkbook and buy the 370Z.
        • 5 Years Ago
        @AIL: It is definitely a short term suggestion. With the current economy, you must squeeze every bit out of something that that sells to keep the boat floating. The GT-R is not a fad, and it won't cool down in a matter of weeks. It is a high performance bang for the buck that will maintain its high demand for more than a year.

        @Brn: The more they sell, the cheaper the R&D cost per vehicle. That's why I suggested to sell a more affordable version without the twin-turbo, and if possible, build some with 4 doors.
        • 5 Years Ago
        Ken, what makes you think they're earning any money on the GTR? It's most likely a loss leader.
        • 5 Years Ago
        Wrong again Ken. If you compare a Murano AWD model with a Pathfinder 4wd V6 model, the Murano gets a combined 20mpg whereas the Pathfinder only manages a combined 16mpg. The Murano is rated at 18 City 23 Hwy and the Pathfinder is 14 City 20 Hwy. All these numbers can be easily verified by visiting:

        http://www.fueleconomy.gov

        In January 2009 Nissan sold 5,204 Muranos and only 1,547 Pathfinders.
        So now tell me again why you want so badly for Nissan to cancel the Murano?
        • 5 Years Ago
        Build MORE gtr's and related? Short-term thinking there. The gtr may be hot now but wait a few weeks. The future for these types of vehicles is dim indeed.
      • 5 Years Ago
      Maybe some of those cuts are due to the outsourcing of their trucks to Dodge.

      Probably not many, but it's nice to think about.
      • 5 Years Ago
      $2.9B?!

      They must have had to fix a LOT of GT-R transmissions!

      Oh, wait...
      • 5 Years Ago
      Spitting image of Mr. Bean. I really didn't know he had successful brother with handsome looks like that.
      • 5 Years Ago
      Carlos says, "I will now play Taps on my imaginary trumpet."
        • 5 Years Ago
        Nissan feels like Japan's Pontiac. It wants to cultivate an image of sportiness but offers entry-level cars full of plasticky details and interior. It has some decent cars but the rest cannot fully compete with Toyota or Honda.
        The only cars that I care for Nissan (note I am omiting Infiniti) are:
        -The Nissan Maxima (like the Pontic G8 it is the only decent sedan in its line-up)
        -Nissan 370Z (I own and prefer the style of the 350Z but wish the interior was a little more refined)
        -Nissan GT-R. (other than tranny issues, this car is the one....)

        My peeves:
        -Versa (seems like Nissan design copied the Dodge Caliber designer's homework)
        -Senta (seems like a Chinese-copied car. The Kia Forte looks better)
        -Altima (decent design, but just as the Pontiac G6, not really up to par to the Camcord)
        -Quest (note to Nissan: soccer-mom and minivan buyers like boring design as the Odyssey, Sienna and Town & Country.
        -Pathfinder (what happened? the original was a must have for the young crowd. Now it feels and looks like it could wear an Isuzu badge)
        -Armada (too big and too rough but not as competent as an Expedition or Suburban

      • 5 Years Ago
      It's not shocking. The fact he didn't cut a deal for Chrysler at the same $0 that Fiat paid meant the House of Ghosn couldn't handle any of Chrysler's toxicity.
      • 5 Years Ago
      Somebody better call Bob Corker, he will solve the problem, post haste.
      • 5 Years Ago
      this comes as shocking news, along with toyota now poised to lose almost 5 billion as reported on leftlanenews.
        • 5 Years Ago
        It is shocking to tricky dicky because he thought the japs were invincible. Now he knows better.
        • 5 Years Ago
        this is like deja vu.

        didnt ghosn do this already way back in 2001 (or whenever it was) when he took over the reins @ nissan? guess you gotta stick w/ what works.
        • 5 Years Ago
        It's shocking that car companies are losing money in an economic crisis which is preventing people from taking out loans?
        • 5 Years Ago
        I blame the idiot at nissan who made it his mission in life to ugly up the front end on every model of nissan.
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