[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 24 April 2007, 06:26 GMT 07:26 UK
Nissan to cut 1,500 jobs in Japan
Nissan Skyline coupe
Nissan's new Skyline coupe is scheduled for release in the autumn
Nissan Motor has said it will cut 1,500 jobs through an early retirement programme in Japan to boost performance amid shrinking domestic sales.

The firm recently cut 775 jobs in the US in a similar manner.

In February, Japan's third-biggest carmaker lowered its earnings outlook by 12% for the year to 31 March.

While Japanese carmakers have been making inroads abroad, domestic sales have been under pressure amid slack demand and stiff competition.


To boost domestic sales and meet its target of selling 4.2 million cars by 2009, Nissan will release 11 new or resdesigned vehicles in the current fiscal year.

In the meantime, it will look to cut costs and the early retirement package will be available to full-time employees in non-managerial positions over the age of 45 with at least five years of service.

Applications will be open from June to the end of March 2008.

"Nissan is being proactive here in dealing with overcapacity," said Christopher Richter, an analyst at CLSA Asia-Pacific Markets.

Lower sales hit Nissan's profits
02 Feb 07 |  Business
Nissan chief gives up US duties
16 Mar 07 |  Business
Lack of new vehicles dents Nissan
25 Apr 06 |  Business
Nissan drives green car programme
11 Dec 06 |  Business

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Americas Africa Europe Middle East South Asia Asia Pacific