business

Nissan slashes full-year forecast as first-half profit falls

16 Comments
By Etienne Balmer and Shingo Ito

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© 2019 AFP

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"Additional restructuring is possible in the wake of the layoff plan," Takada said.

This is going to scare Abe and the folks who have been propping up the economy with government funds.

A major player like Nissan, bleeding cash, mired in scandal, and now potentially laying off workers in an economy that is suffering from a lack of workers? Not good news at all!

One MAJOR problem though is that Japan is not a country of people accustomed to career moves, and training costs time and money and more importantly DESIRE from the people. If these laid off workers are willing to retrain themselves to work somewhere else in the economy, then by all means let them go!

The rest of the economy will be glad to take your employees! (With the exception of anyone who sits in a board room that is!)

9 ( +9 / -0 )

Reap what you sow Nissan.

18 ( +18 / -0 )

I'm looking to buy a car at the moment. Damned if I will buy Nissan.

14 ( +14 / -0 )

They will continue to try to spin this as all of Ghosn's fault in the J-media.

15 ( +16 / -1 )

Good.

8 ( +8 / -0 )

hey will continue to try to spin this as all of Ghosn's fault in the J-media.

True. Nissan has a very uninspiring lineup now and though sales of SUV's and Trucks, at least in US are up, Nissan's share is DOWN from 2019 Q3 numbers. Just wait until Jeep brand passes Nissan in sales. It will be a goal for ex-Infiniti/Nissan exec now Global president Jeep Christian Meunier.

7 ( +7 / -0 )

No Business

Good.

Took the words right out of my mouth

6 ( +6 / -0 )

Slower sales in Japan, the States, and Europe? Well I know that I personally have lost any interest in buying a new Nissan car after what happened to Ghosn, as have my French friends here. From what I've seen on American business sites like CNBC they're also reporting in favor of Ghosn and how the whole scandal was super shady.

11 ( +12 / -1 )

Wow, wonder what sort of crisis in leadership brought that about...They'd have done better to have pursued the merger with Renault. Guess they're really going to make Ghosn pay, now.

3 ( +3 / -0 )

A once great car company, spiralling down. One thing this whole businesses has convinced me of, is that, there is such a thing as Karma.

6 ( +6 / -0 )

They will continue to try to spin this as all of Ghosn's fault in the J-media.

Of course they will. From what can see, nothing has changed in 40 years, (and probably years before that). Whenever things go sour like this, it is never the fault of Japan / Japanese.

8 ( +8 / -0 )

Former CEO Hiroto Saikawa resigned in September after an investigation prompted by the Ghosn scandal revealed he was among Nissan executives who received excess pay by altering the terms of a share price bonus.

The fact that he's not rotting in jail like Ghosn is for financial theft, is damaging Nissan's reputation too. It's clearly one rule for them and one for us!

3 ( +3 / -0 )

Until saikawa goes to jail, nissan cannot expect any sane person to help. I will not even consider nissan for 1 yen.

2 ( +2 / -0 )

Some unsolicited advice to Nissan:

Get rid of the terrible JATCO CVTs that absolutely kill the driving experience

Get a new design language. The current one is too generic, and no, the "V-Motion" grille doesn't cut it

Stop putting NISMO tags on barely-improved cars with some small cosmetic upgrades- save it for real, limited edition performance variations of select models only

Finally replace or kill the Z, for Pete's sake

Stop paying Eiichi Yazawa hundreds of millions of yen to appear in unappealing commercials

In fact, stop paying any celebrity to endorse your car- Usain Bolt or Naomi Osaka. I don't know anyone that chooses their cars based on celebrity endorsements

Go all-in, worldwide, on e-Power series hybrid technology- it's the one thing that they are legitimately doing better than anyone else right now

Stop trying to get your foreign CEOs arrested and prosecuted

I think that about covers it?

3 ( +3 / -0 )

Numan

They will continue to try to spin this as all of Ghosn's fault in the J-media.

Don’t know what Japanese media you are viewing or reading, but there has actually been quite a bit of criticism of the Japanese managers at Nissan in Japanese language venues.

Senkan

True. Nissan has a very uninspiring lineup now and though sales of SUV's and Trucks, at least in US are up, Nissan's share is DOWN from 2019 Q3 numbers. 

Because of it take several years to develop automobile designs and bring them to market, anything Nissan has on offer now was developed under Ghosn.

Madden

American business sites like CNBC they're also reporting in favor of Ghosn and how the whole scandal was super shady.

Other business cites including the Financial Times have been coming down hard on Ghosn. So too for US auto industry publications.

Belrick

The fact that he's not rotting in jail like Ghosn is for financial theft, is damaging Nissan's reputation too. It's clearly one rule for them and one for us!

Rotting in Jail? He’s been out on bond for months.

0 ( +0 / -0 )

Henny Penny -

The latest Yomiuri in-house article tries to lay the blame at Ghosn's feet because of his decisions years ago.

Saikawa was co ceo from 2016 and absolute ceo & president from 2017. It seems he couldn't make the tough necessary decisions and did little to steer Nissan into the evolving real hard world of auto manufacturing. He was more interested in his position and keeping the establishment secure. He failed.

And in this the 21st C it does not take years for major auto manufacturers to develop new models.

The headless-chicken that is Nissan of late, needs to remove all ballast weighing down it's innovation tank, massively restructure it's workforce and declare a new direction if it wants to be part of the global motor force of now and beyond.

0 ( +0 / -0 )

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