Nissan will pause US operations for two days this January

CNN Finance 1 week ago
Electric cars promise to change the way we drive, making it greener and potentially even safer. But electric vehicles' path to wider adoption is full of hurdles. CNN Business' Peter Valdes-Dapena explains.

Nissan plans to close US operations for two days in early 2020.

The news was first reported by Motor1.com, and CNN Business confirmed the move with the auto maker. Affected employees will not be paid during the shutdown, which will take place January 2 and January 3.

"We've already taken measures to right size our operations in North America but this is just to optimize our business performance and competitiveness," a spokesperson told CNN Business.

    Nissan dealers, which are businesses independent of the automaker, will not be affected.

    It's been a rough year for Japan's second-biggest automaker. Nissan posted a big drop in profit and revenues in May, which then-CEO Hiroto Saikawa described as "rock bottom."

      Then in July it announced it planned to cut 12,500 jobs worldwide and reduce its product lineup by at least 10% by the end of fiscal year 2022.

      Last month, Nissan cut its sales forecast for the year after yet another lackluster earnings quarter that saw profit plunge by 70%. The company said it expects to sell 5.2 million cars for the fiscal year that ends in March 2020 — 5.4% less than what it initially anticipated.

      CNN Business's Peter Valdes-Dapena, Sherisse Pham and Jill Disis contributed to this report


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