Exclusive: Do or die – Nissan wielding an ax to build Ghosn house

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YOKOHAMA, Japan (Reuters) – Nissan (7201.T) is planning a strong cost cut to cope with unexpected sales declines because of an expansion strategy it inherited from former President Carlos Ghosn's fraudsters, four people familiar with the plans. plan said.

FILE PHOTO: Nissan's Ariya concept car is shown at the Tokyo Motor Show, in Tokyo, Japan October 23, 2019. REUTERS / Edgar Su / File Photo

Japan's second-largest automaker is set to eliminate at least 4,300 white-collar jobs and close two manufacturing facilities as part of a broader plan to add at least 480 billion yen (4). , $ 4 billion) into its bottom line by 2023, two of those told Reuters.

These moves are set out in the revolving plan announced in July and are likely to include cutting Nissan's car range and a range of product and trim options in each line, cutting back on work primarily at headquarters in the United States and Europe, and reduce advertising and marketing budgets, they say.

The situation is catastrophic. It did or died, a person close to Nissan senior management and the company's management told Reuters.

Most of the planned cuts and measures to improve efficiency were presented to Nissan's board in November and received its general blessing, two sources said.

A Nissan motorcycle7201.T) the spokesman declined to comment on new restructuring measures or the view that weaker-than-expected sales were the catalyst for a global overhaul.

Under Ghosn, Nissan began to expand globally, increasing capacity …

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