Nissan cuts salaries of top-managers
Nissan President Makoto Uchida gave up half his salary while that Japanese automaker has recorded the largest annual loss in the last 20 years – more than $6.3 billion Speaking at the annual shareholders ‘ meeting, he stated that the payment of top managers will also be reduced because investors do not receive dividends.
“The salary of the Executive Director will be reduced by 50%, senior managers by 30%, other managers – 20%,” said Uchida.
He presented a plan for restructuring the activities of the company given the falling sales caused by the pandemic coronavirus. We are talking about the strengthening of the Franco-Japanese Alliance Renault-Nissan-Mitsubishi, the relationship which had cooled down because of the arrest of the former head of the concern Carlos Ghosn on charges of financial fraud.
Among other things, the company intends to reduce total production capacity by 20% and, in particular, to close the factory in Barcelona. Almost 3 thousand people can lose their earnings. There was a mass protest.
Nissan has also cut hundreds of jobs in the UK, Brazil and Mexico, but plans to expand its presence in the Japanese, Chinese and North American markets.
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