Tokyo - Nissan plans to expand job cuts to over 10 000 to help turn around its business, a person with direct knowledge of the matter said on Wednesday, as profit continues to plunge while the carmaker grapples with management upheaval.
The global plan includes the 4800 job cuts announced in May and will mostly be at factories overseas with low utilisation rates, the person said. It will be announced along with financial results on Thursday, said the person, who declined to be identified as the information was still private.
Nissan declined to comment on the job cuts. Its shares ended the day up nearly 1.0%.
Analysts expect Nissan to post one of its weakest quarterly performances since the 2008 global financial crisis when it announces its first-quarter earnings on Thursday.
On Wednesday, the Nikkei business daily reported the carmaker would report operating profit of "several billion yen" for the quarter, around a 90% drop from a year earlier. Analysts estimate a decline of 64%.