TOKYO (AP) — Nissan Motor is slashing production at its U.S. plants and offering buyouts to factory workers there as part of the Japanese automaker's urgent efforts to return to profitability.
Thursday's move is part of Nissan Motor Corp.'s plans, announced two months ago, to slash 9,000 jobs globally, including in China, after it racked up a quarterly loss due to sinking sales and ballooning inventory.
It said that at its plant in Smyrna, Tennessee, one production line will maintain two shifts, while the other line will consolidate to one shift. In Canton, Mississippi, it's reducing the speed on one line. Shift adjustments will be more gradual at its plant in Decherd, Tennessee.
Nissan issued the following statement on the matter:
“Nissan is taking measures to ensure that we align our production to meet the needs of the market and customers, ensuring competitiveness and offering strong value with our vehicles. These actions include changing shift patterns at our U.S. facilities to match production volumes with market demand. To that end, Nissan is offering certain hourly U.S.-based manufacturing employees a voluntary separation package in FY25. This approach ensures more efficient operations at the plants under current market conditions, while giving us flexibility to expand when future product programs require.”
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