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Japan's Automaker Nissan Axes 20‚000 Jobs

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2009-02-10

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Japan's third largest carmaker Nissan Motor announced plans to slash 20-thousand jobs worldwide by the year's end.
Hit by the global economic downturn the Japanese auto giant is expected to post over 260-billion yen or 2.9 billion US dollars in losses for the first time in 14 years at the end of its fiscal year closing this March.
In efforts to minimize operating costs Nissan is also transferring its production lines to Thailand while cutting executive pay and withholding incentives.
Reporter : yschoi@arirang.co.kr

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