| |
Saturday, April 17, 1999
Nissan cuts jobs to tackle debt
AGENCIES
TOKYO, APR 16: Japan's Nissan Motor Co Ltd said today it would reduce production capacity and cut 5,000 jobs as it struggles to tackle a burgeoning debt crisis. Japan's number two car maker, which last month, signed a major tie-up with France's Renault Sa, said it was still expecting to post a 30 billion yen ($ 250 million) group net loss for the past year to March.But it now forecast pre-tax profit at 15 billion yen, down from a forecast 60 billion yen profit. Nissan blamed a deep slump in the Japanese market and heavy losses in Mexico, saying it had made profits in the US and Europe. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
Printer-friendly page