Nissan Plans Voluntary Buyouts for Some U.S. Employees
Nissan has seen its sales numbers tumble over the last few years, with its market share, operating profit, and net income falling by deep double-digit percentages since 2019. The Japanese automaker now needs to cut costs to compensate for the fall and will offer voluntary buyout packages to a chunk of its older salaried workforce.
The company confirmed its plans to Automotive News, with a spokesperson saying that it is looking to “optimize business operations and remain competitive in the future.” This action follows a similar buyout Nissan offered in 2019 and 2020, and the automaker has made other cost-cutting moves, such as reducing employee travel budgets and implementing unpaid furlough days. Nissan is offering the buyouts to workers aged 52 or 55 years and up, depending on the department.
Earlier this year, the automaker delayed the release of its Rogue crossover, its top-selling model. Nissan pushed deals on the older model and has climbed to the top spot among full-line automakers for incentive spending.
Though disappointing for the Japanese company, it’s not the only automaker implementing cost-cutting measures in the United States. Last month, Stellantis offered buyouts to thousands of non-union U.S. workers and said that it would pursue involuntary layoffs if it couldn’t convince enough people to take the deal. The combined pressure of shaky demand and increased competition has put many automakers in a tricky spot, and Nissan’s lineup sorely needs more hybrid options to remain relevant.
[Images: Nissan]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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