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Nissan Motor Co Ltd plans to turn around its business by expanding job cuts to more than 10,000. The corporation’s profit keeps plunging, and Nissan tries to cope with management upheaval. The company’s global plan includes almost 5,000 job cuts and will implemented at the foreign factories with low utilization level. Nissan’s shares added 1% in price on the last trades. Analysts expect Nissan to report its worst quarter figures since the global economic crisis in 2008. The report will announce Nissan’s earnings in Q1. Experts suggest the reduction will be at least 64%. The job cuts will exceed 7% of company’s almost 140,000-strong workforce.
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple ...
China saw its factory gate data for June perform better than expected on Thursday morning. However, persistent deflation indicated that the impact from the COVID-19 pandemic still continues to linger. The data, released by the National Bureau ...
On Wednesday, Bursa Malaysia (KLSE) suspended public trading for low-cost carrier AirAsia Group Berhad (AIRA.KL) after an Ernst & Young external auditor gave an opinion about the airline’s ability to continue as a standing concern. “The ...
Levi Strauss & Co (LEVI.N) expects that its business would lose footing in the second half of the year. The company deemed it possible even as its sales were seen recovering at its reopened stores, following virus-related lockdowns imposed ...
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