Nissan slashes thousands of jobs
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 13 May 2025
⏱️ 8 minutes
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Summary
From the BBC World Service: Japanese carmaker Nissan will cut 20,000 jobs globally as it struggles with falling sales in China and heavy price discounts in the U.S. We'll hear more. And later in the program, leaders and economists in Africa gather in Togo to discuss the continent's debt challenges. Plus: slashed duties on parcels from China and Hong Kong to the U.S. and calls for unity from Chinese President Xi Jinping.
Transcript
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| 0:31.2 | Japanese car giant Nissan slashes thousands of jobs after dismal results. Good morning. You are listening to the Marketplace |
| 0:39.0 | Morning Report and we're live from the BBC World Service. I'm Leanna Byrne. So Nissan is slashing |
| 0:44.5 | 20,000 jobs worldwide and shutting seven factories as it struggles with plunging sales, especially |
| 0:51.5 | in China and the US. It's a dramatic move from its new boss, |
| 0:55.3 | Ivan Espinoza, who took charge last month. Here he is, speaking at a press conference a short |
| 1:00.8 | time ago. Our full year financial results are a wake-up call. The reality is clear. We have a very |
| 1:08.7 | high-cost structure. To complicate matters further, |
| 1:12.9 | the global market environment is volatile and unpredictable, making planning and investment |
| 1:19.5 | increasingly challenging. Hence, Nissan must prioritize self-improvement with greater urgency |
| 1:27.3 | and speed. |
| 1:28.6 | Now, Nissan is already deep in the red, losing $4.5 billion last year. |
| 1:34.1 | So what's gone wrong? |
| 1:35.1 | The BBC's Theo Leggett has been following this one. |
| 1:37.4 | Hi, Theo. |
| 1:38.2 | Hello, Leanna. |
| 1:39.1 | So those are eye-watering numbers, 20,000 jobs, that's 15% of the company. |
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