Nissan Said to Plan $2.8 Billion in Cost Cuts, Book Charges
- Datsun brand to be phased out, one production line to be cut
- Plan aimed at turning around automaker after tumultuous period
Nissan Motor Co. is planning to cut about 300 billion yen ($2.8 billion) in annual fixed costs and book restructuring charges as the coronavirus pandemic further depresses the carmaker’s sales, a person with knowledge of the measures said.
Those initiatives are likely part of a three-year plan that will be unveiled along with financial results on May 28, calling for Nissan to take more drastic measures to turn the manufacturer around, said the person, asking not to be identified because the information isn’t public. The Yokohama-based company will phase out the Datsun brand, shut down one production line in addition to the recently closed operation in Indonesia and reach the reduced spending target this year by cutting marketing, research and other costs, the person said.