Nissan will cut 20,000 jobs, close seven factories and pause all post-2026 new car development as part of a radical new recovery plan.
After posting a £3.4bn loss, new CEO Ivan Espinosa has instead directed 3,000 people to focus fully on “cost reduction initiatives”. The target is to save 250 billion yen (£1.2bn) by 2026, compared to 2024 numbers.
