Nissan Cuts 9,000 Jobs Amid Declining Sales and Rising Costs

We didn’t foresee HEVs ramping up this rapidly,

he said

We will restructure Nissan to become leaner and more resilient."

He said

These turnaround measures do not imply that the company is shrinking,

he added

Makoto UchidacEO

Nissan will restructure its business to become leaner and more resilient, while also reorganizing management to respond quickly and flexibly to changes in the business environment,

CEO Makoto Uchida said in a statement

This has been a lesson learned and we have not been able to keep up with the times,

said Mr Uchida in a press conference in Tokyo

Facing a severe situation, Nissan is taking urgent measures to turn around its performance and create a leaner, more resilient business,

the company said in a statement

We did start to understand this trend towards the end of last fiscal year,

he said,