Nissan to cut 20,000 jobs

Nissan Motor Company Ltd. on Monday said it plans to cut 20,000 workers worldwide because of losses stemming from the global recession.

The Japanese automaker said the reductions, which will take place over the next year, are part of a cost-savings effort that includes job sharing, eliminating car lines and reorganizing corporate divisions. The job cuts, about 60 percent of which will come in Japan, represent nearly 9 percent of the automaker’s 235,000-member work force.

From BizJournals