Nissan to cut 20,000 jobs as Trump's tariffs complicate plans to escape its financial crisis

"Nissan announced drastic layoffs and factory closures, struggling with a financial crisis exacerbated by tariffs that may cost the company $3 billion this year."

"The carmaker's latest cost-cutting plan aims to reduce expenses by 250 billion yen, as uncertainties over US tariffs cloud its financial forecast."

Nissan Motors has unveiled a significant cost-cutting strategy, including cutting 20,000 jobs and shutting down seven factories, as it grapples with a severe financial crisis fueled by increasing US tariffs. The company reported a staggering net loss of 671 billion Yen ($4.5 billion) for the previous year and faces uncertainties that prevent a profit forecast for 2025. With leadership changes and increased competition, Nissan aims to reduce costs by 250 billion yen ($1.7 billion) while responding to tariff-induced challenges in the US market.

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