Nissan to lay off 10,000 U.S. workers, at Tennessee and Mississippi facilities--Nikkei [MarketWatch]
NISSAN MOTOR LTD S/ADR (NSANY)
US:NASDAQ Investor Relations:
nissan-global.com/en/ir
Company Research
Source: MarketWatch
Nissan Motor Co. Ltd. will lay off about 10,000 workers in the U.S., which is nearly the entire workforce at its U.S., factories, according to a Nikkei report. The report said employees at the Japan-base auto maker's auto and engine factories in Tennessee and an auto plant in Mississippi will be affected, as production at those facilities has been suspended since mid-March as a result of the COVID-19 pandemic. The employees being laid off will not get paid by Nissan, the report said, but it appears the company plans to rehire the workers once production at the plants restarts. The Nikkei report said Nissan alos plans to lay off most of its 6,000 workers in the U.K. and about 3,000 workers in Spain. Nissan's U.S.-listed shares have tumbled 45.3% year to date, while the S&P 500 has lost 17.6%.
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