However, after a quarterly loss of 9.3 billion yen ($61 million), the business said in November that it was cutting 9,000 positions, or around 6% of its worldwide workforce, and lowering its global manufacturing capacity by 20%.
In a recent management shuffle, Uchida, the company’s CEO, accepted a 50% salary reduction and took ownership of the financial difficulties, stating.
That Nissan needed to improve its efficiency and adapt to changing market demands, cost increases, and other worldwide shifts.
“We expect to be able to provide even more value to a larger customer base if this integration materializes,” Uchida said.
Nissan’s credit outlook was recently downgraded to “negative” by Fitch Ratings, which cited declining profitability, in part because of price reductions in the North American market.
However, it pointed out that it has a sound cash reserve of 1.44 trillion yen ($9.4 billion) and a healthy financial structure.
