business

Nissan sees cost of quitting Barcelona at up to $1.7 bil, source says

12 Comments
By Joan Faus

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Will the 1.5 billion yen include unemployment benefits paid to the fired workers? Will it include tax revenue the workers would have paid to Barcelona city? Why are there two different anonymous Nissan sources giving wildly different estimates?

5 ( +8 / -3 )

Ghosn strikes again!

9 ( +10 / -1 )

Will the 1.5 billion yen include unemployment benefits paid to the fired workers?

The redundancy payments will be borne by Nissan while the unemployment benefits will be paid by the state, no?

Nissan seems to be consolidating its manufacturing base in its Sunderland operation, which seems odd given the Brexit situation.

Have to wonder if the Independentismo Catalán imbroglio has anything to do with Nissan's decision.

4 ( +4 / -0 )

Back stabbing Nissan execs lead to this fall and should be made to pay for it. Getting rid of Ghosn after he had righted the sinking SS Nissan is now coming back in spades to get them. This is what true Karma looks like in real life.

Sadly, the scummy Nissan execs probably aren't feeling any financial pain when they should shoulder all the responsibility for the mess they continue to create. They should do jail time on top of being stripped of all their wealth to pay for all the Nissan workers losses.

11 ( +16 / -5 )

A take on Nissan's departure from the Spanish media:

Nissan has benefited from hefty subsidies and tax relief that should have come with an obligation toward the country hosting its production plants. Businesses that are going to benefit from state aid and tax deductions should be bound by provisions of permanence in the country, and by a negotiated preference to ensure the continuity of investment (and thus jobs) in the event of structural changes within the company. However, these conditions were not negotiated, and in the current situation, they have not been imposed, either. The common government practice in such cases has been to increase the benefits and the support for companies at the slightest sign of outsourcing on their part.

In a nutshell, government incompetence meets corporate greed.

14 ( +14 / -0 )

Huh, it's almost as if a certain foreign CEO who's no longer in-country really was holding it all together...

8 ( +12 / -4 )

French media says that Renault factories, in France, will start manufacturing Nissan cars.

There'll be a mess in International politics.

6 ( +6 / -0 )

Lol...like we didn’t see this coming.

3 ( +3 / -0 )

I may be wrong, but it feels like rearranging deckchairs on the Titanic at this point.

2 ( +2 / -0 )

Not only is it the 3000 workers at the plant it will effect, its all of the service industries and suppliers take a hit to, as they won't be able to supply Nissan so these smaller companies might have to lay off staff, and then this effects other companies further down the line, so its more like 6000 workers in total with god knows how many euros taken out of the local economy.

2 ( +2 / -0 )

Nissan seems to be consolidating its manufacturing base in its Sunderland operation, which seems odd given the Brexit situation.

Nissan yesterday described the Sunderland plant as unsustainable if no tariff-free agreement is reached between the UK and EU.

https://www.bbc.co.uk/news/business-52900528

3 ( +3 / -0 )

Wealth, that should rightly be used to improve the lives of long suffering Japanese back home, is instead used to pay for another Japan Inc failure. Of course, little of this will filter back to the plebs whose sacrifices help make it possible for Japan to be in such a position in the first place.

1 ( +1 / -0 )

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