Word: nissans
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...only privately held member of The Big Three, Chrysler, did better than expected. Sales were down 44% to 84,050. Honda (HMC), Toyota (TM), and Nissan all had results down about...
...battle. As losses mount and order books shrink, mass layoffs are necessary for survival. In Japan, where carmakers and consumer electronics manufacturers are confronting unprecedented losses, many of the country's most famous firms have been forced to break tradition and announce major job cuts. Just this week, carmaker Nissan said it would reduce its global workforce by 20,000, or about 8%. A few days before Nissan's announcement, Panasonic announced 15,000 layoffs and NEC another...
...Nissan hit the car industry with news that was worse than expected. It will not only post a very large loss for the year, it will cut 20,000 jobs...
What is more stunning than the $2.9 billion loss for the car company's fiscal year is that it represents the first operating loss Nissan has had in 14 years, according to Reuters. (Read "January Auto Sales Go from Bad to Worse...
...plans for government to bail out car companies may quickly move beyond some US and UK and could even happen in Japan. Toyota and Honda probably have the balance sheets to last through a two- or three-year downturn. It is not clear that Nissan does...