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Nissan plans $2.8 billion in cuts

Christian Fernsby |
Nissan Motor plans to cut $2.8 billion in annual fixed costs as part of its restructuring plan, Bloomberg News reported Wednesday, as it braces for a drop in sales that could complicate its recovery from years of poor profitability.

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Topics: NISSAN   

Following a three-year spell of tumbling profits, Nissan will announce its restructuring plan on May 28, its latest attempt to slash costs after a strategy of aggressive selling to chase market share has pummelled its bottom line.

The Japanese automaker plans to slash fixed costs in areas that include marketing and research, Bloomberg reported, citing unnamed sources. It added that the company’s board has not yet reviewed the plans.


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