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, 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

      Source link
      Read also:
      One America News Network › Finance › 6 days ago
      (Reuters) - Japan's No. 2 automaker Nissan Motor Co said on Thursday its U.S. unit would halt operations for two days next month, as the company tries to reverse a slide in profitability in
      Forbes › Finance › 2 months ago
      While Uchida, 53, didn’t come to Nissan until 2003, he is seen as having a positive relationship with French automaker Renault, which owns 43% of Nissan in an alliance that Ghosn led for about two decades. Nissan owns about 15% of Renault, but has no...
      Forbes › Finance › 1 month ago
      Uchida, who was promoted earlier this month, is under pressure to reverse Nissan’s declining financial performance. Nissan's profit for the quarter ended June 30 fell about 94.5% from a year earlier, and global sales fell about 7%.
      The Wall Street Journal › Finance › 2 months ago
      Some Nissan Motor directors will demand to see a list of around 80 Nissan employees who may have assisted former Chairman Carlos Ghosn in alleged wrongdoing, setting up a potential clash with management.
      Chronicle Live › 2 months ago
      Nissan's European chairman, Gianluca de Ficchy, said a no-deal Brexit would mean the 'entire business model for Nissan Europe will be in jeopardy'
      Business Insider › Automobile › 1 month ago
      Nissan has revamped the Versa for the 2020 model year. I enjoyed a short drive around NYC in a Nissan Versa SV, priced at about $18,000. The Versa SV comes with a peppy yet fuel-sipping 1.6-liter four-cylinder engine that makes 122 horsepower. The...
      Business Insider › Automobile › 2 months ago
      The SEC announced a settlement in an investigation into a $140 million compensation-fraud scheme involving former Nissan chairman Carlos Ghosn, Nissan director Greg Kelly, and the company itself. All parties under investigation paid fines and agreed to...
      The Independent › Finance › 2 months ago
      Adding 10 per cent export duties to 70 per cent of Nissan's production would leave Nissan Europe 'in jeopardy', boss warns
      Reuters › Finance › 1 month ago
      Nissan Motor Co's incoming chief executive Makoto Uchida told employees on Friday that his mission is to "restore business performance and regain trust in Nissan".
      The New York Times › Finance › 1 week ago
      Nissan Motor Co chief executive Makoto Uchida said on Monday that he would work to improve the automaker's financial performance and co-operate closely with alliance partner Renault SA, while maintaining Nissan's independence.
      Sign In

      Sign in to follow sources and tags you love, and get personalized stories.

      Continue with Google