Major Japanese car manufacturing company Nissan is on the brink of collapse, per one of their officials. The official disclosed that it has just 9 mon
Major Japanese car manufacturing company Nissan is on the brink of collapse, per one of their officials. The official disclosed that it has just 9 months to survive if the financial demands are not met on time.
The automotive firm last month stated it would cut costs by axing 90,000 workers globally in a bid to save £2 Billion.
Makoto Uchida, the CEO of the company, has agreed to take a 50% pay cut to help the company save funds to continue to operate.
Headquarters in Yokohama, Japan, 26th December 2024 will be the 91st birthday of the Nissan Motor Corporation.
The company risks running up its largest-ever debt by 2026, potentially owing as much as $ 5.6 billion (£ 4.4 billion), sources suggested.
The firm’s worldwide sales reduced by 3.8 per cent to 1.59 million vehicles in the first half of the current financial year, largely due to a 14.3 per cent fall in China.
Nissan has over 7,000 workers only in the UK and many fear they will lose their jobs in the company.
COMMENTS