Nissan is expected to announce major expansion of its cost-cutting efforts, with reports suggesting that 20,000 jobs worldwide will be cut.
The company had already stated in November that it would cut 9,000 jobs because of weak sales and rising costs.
Japanese broadcaster NHK reported on Monday, May 12 that the number of job cuts at Nissan could be more than double the previously expected 20,000.
Nissan has not yet commented on this claim but is set to release its full-year results for the period ending in March on Tuesday morning.
This will be the first financial report released by Nissan since the appointment of a new CEO last month.
Nissan's continued investment in Sunderland amid job cut concerns:
Since Brexit, Nissan has expressed concerns about the future of its Sunderland plant but despite this, it has continued to invest in the plant.
In fact, the company has invested £2 billion in the Sunderland plant since 2023.
Additionally, this year, the company secured financial support from the UK government to set up a new facility in Sunderland that will focus on manufacturing electric powertrains.
If the report about the job cuts is accurate, Nissan would be reducing its global workforce by 15%.
