Categories: Cars

Around 500 Salaried Employees Accepted Nissan’s Voluntary Buyout Offers

Nissan is eying significant job cuts to right the ship and reduce costs. As part of its effort to slash 9,000 jobs worldwide, almost 500 salaried workers in the U.S. will get the axe in the form of voluntary buyouts.

The automaker said that around six percent of its 8,000-strong salaried workforce took its buyout offers, which were issued to employees at least 52 years old in some non-manufacturing divisions and 55 years old for those working in manufacturing. Nissan said it would also shuffle U.S. leadership positions in the future.

Sales of new Nissan models fell in the third quarter, but that was after the automaker saw a strong 1.7-percent climb in the first part of the year. Despite that not-so-awful performance, Nissan saw its market share slip by around a third between 2018 and 2023, and the brand’s dealers have struggled with profitability as a result.

While some models have been recently updated, Nissan’s overall catalog is aging and not all that competitive with the market. It’s woefully behind on electrification, offering only one EV and lacking compelling hybrid options that its rivals have in spades. The company has a lot of cash on hand, but it’s also facing significant debts, and developing new vehicles is not a cheap process.

[Images: Nissan]

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Source: The Truth About Cars

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