Nissan Motor Co. $7201.T has announced that its ongoing restructuring efforts will come at a greater financial cost than originally anticipated. The Japanese automaker disclosed that additional expenses related to workforce reduction could reach 60 billion JPY (418 million USD) within the current fiscal year, amplifying the pressure on an already strained balance sheet.

The appointment of Ivan Espinosa as the new CEO of Nissan Motor Co., Ltd. $7201.T comes at a critical juncture for the once-dominant Japanese automaker. Tasked with steering the company through turbulent waters, Espinosa confronts a landscape marked by persistent sales declines, intensified competition, and shifting market dynamics. Despite efforts to curb costs, the path to revitalization remains uncertain, as Nissan struggles to regain lost ground in the fiercely competitive global automotive industry.

Nissan Motor Co. $7201.T, Japan’s third-largest automaker, is implementing a sweeping cost-cutting initiative that will eliminate more than 10,000 jobs worldwide. With this new round of layoffs, the total workforce reduction will reach approximately 20,000 positions—representing about 15% of the company’s global headcount. This development, reported by NHK, underscores Nissan’s urgent efforts to restore operational efficiency and financial sustainability following sharp sales declines in key markets, particularly China and the United States.