Nissan Restructuring to Become a Smaller OE
April 15, 2020—After the COVID-19 virus pandemic and recent charges against Nissan's former CEO Carlos Ghosn for underreporting his earnings and misusing company assets, the automaker is looking to reduce its size, reported Reuters.
A restructuring plan would cut 1 million cars in its annual sales target, according to the report. However, no new sales have been finalized. Under Ghosn, the automaker was targeting around 8 million cars.
Shrinking its sales target by 1 million vehicles would equate to closing three to four more assembly plants and shedding thousands more jobs on top of already announced plans to cut its workforce by 10 percent. The cutbacks would also ripple through to its suppliers and dealers.