The goal of the Re:Nissan programme is to save ¥500 billion ($3.4 billion). The Japanese automaker hopes to achieve the stated savings by cutting 20,000 jobs, closing 7 of 17 car plants, and optimising costs in the RD, marketing, management, and production divisions.
It has not yet been specified which regions will be affected, but the US remains a key market: Nissan has about 21,000 employees and three plants there.
Fiscal 2024 (ended in March) was extremely unsuccessful for Nissan. The net loss was ¥670.9 billion ($4.5 billion), and operating profit fell 88% to ¥69.8 billion ($472 million).
At the same time, the company's global sales totalled 3.35 million vehicles, down only slightly from 3.37 million units in 2023. According to the new CEO of Nissan Motor, Ivan Espinosa, who took office on 1 April, the company cannot exist with such a ratio of revenue to costs. He also called fiscal 2025 a "year of transition" to profitability in fiscal 2026.
In December 2024, Nissan held merger talks with Honda, but they failed. Honda proposed to turn Nissan into a subsidiary, which was rejected.
