(RTTNews) - Japanese carmaker Nissan Motors Co. Ltd. (7201.T, NSANF.PK) Thursday revealed that around 6 percent or nearly 1000 people out of 17000 employees in the US have accepted early retirement packages. They will leave the company by the end of this year. According to reports, the company has been planning to axe around 9000 employees across the globe.
The job cut was essential after the company projected a fall in full-year profit by 70 percent, in view of market slouch down in China as well as North America. For the first half to September, the company has recorded a decline of 93.5 percent in net profit to $124 million, owing mainly to heavy market promotion and price war.
Kyodo News of Tokyo has reported that Nissan CEO Makoto Uchida has announced his decision to voluntarily cut salary by 50 percent from November and he expects other executives also follow this.
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