The current economic meltdown is taking down another Japanese Automaker. Nissan fell to a full-year loss, its first in almost 10 years. In this, it followed in Toyota's footsteps
About 20,000 employees (9% of its workforce) are being let go.
Directors will have salaries reduced by 10%, and will not get bonuses, while Managers will have their salaries reduced by 5%.
Nissan, more than the other big Japanese auto makers, is rushing towards the future, as evidenced by the awe-inspiring GTR (I just saw it on the street - nice). Lets hope they can get back to their profitable ways soon. Their new lineup is quite exciting, with a number of speedy looking cars, including the 370Z and the Altima coupe.
Posts
