Nissan just released its profits for the 2024 fiscal year, and they’re not great. In fact, the beleaguered Japanese automaker might have to lay off twice as many people as it initially projected last month, meaning a reduction of about 20,000 employees globally. To put that number in context, it represents a staggering 15 percent of the company’s total workforce. The layoffs will be gradual through the end of FY2027, meaning employees may have a couple years to line up alternative employment or plan for early retirement, but it still portends unfortunate news for Nissan – despite impressive sales of models like the Rogue and the reintroduction of the appealing Murano.
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