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Nissan Motor Co. announced on Thursday that it would cut 12,500 jobs worldwide by 2022. It will reduce its production in an effort to cut costs because it slows sales as it tries to recover from a scandal regarding his isolated president, Carlos Guden.
Japan's second-largest automaker reported a 98.5 percent drop in first-quarter operating profit to 1.6 billion yen ($ 14.80 million), as it continues to struggle in North America, a major market that has experienced rising costs. On the cars to keep pace with the strong sales of its competitors.
The company has held its forecast for an annual profit of 230 billion yen in March, a decrease of 28 percent from last year, the lowest in more than 10 years.
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