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Kathmandu. The companies announced the end of merger talks after the market closed on Thursday. Nissan, the world’s third-largest automaker, said it would adjust its cost structure.
Nissan shares rose 8.17 percent to 449 yen on Thursday, while Honda shares rose 4.46 percent to 1,498 yen. Nissan said it plans to optimize its cost structure and reduce fixed and variable costs by a total of 400 billion yen (US$2.6 billion) in fiscal 2026.
Nissan detailed the roughly 9,000 job cuts, saying it will “reduce indirect employment by 2,500 employees worldwide through streamlining operations, implementing new hire reductions and accelerating voluntary separation programs.”
Nissan will close three plants in the first quarter of fiscal 2025 to reduce the remaining non-essential workforce. The closures of factories in Thailand and the United States will result in 5,300 job cuts in fiscal 2025 and 1,200 jobs next year. “We are committed to achieving a more efficient cost structure while driving top-line growth through advanced competitive products,” Nissan President and CEO Makoto Uchida said in a statement. Nissan also said it will cut top management positions by 20 percent.
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