Nissan Announces Turnaround Plan Following Failed Merger Talks with Honda. The Japanese automaker aims to save $2.59 billion through layoffs and efficiency measures, while actively seeking new partnerships for long-term survival.
Nissan has announced turnaround measures as merger talks with Honda end. Around $2.59 billion could be saved through layoffs and efficiency drives. Nissan will explore partnerships, but Foxconn would rather team-up than buy-in. What next for Nissan ? The Japanese automaker has been forced to cook up a turnaround plan B after merger talks with Honda broke down, and the new strategy involves cutting billions of dollars of cost out of the failing business and urgently looking for a new partner.
Around 2,500 indirect jobs will go , and consolidating production lines at Smyrna and Canton in the US, and in Thailand will reduce staffing numbers by 6,500 over two years. Other savings come from shortening the development time for new vehicles, while streamlining product lineups, making parts less complicated, and cutting supply chain inefficiencies should contribute ¥100 bn .
Nissan Honda Merger Turnaround Plan Partnerships Foxconn
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