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Nissan has suspended merit-based wage increases worldwide and begun offering buyouts to selected US workers as the company moves to implement a broader cost-cutting plan across its operations.
In internal emails seen by Reuters, the Japanese car giant confirmed the rollout of a new phase in its restructuring strategy, which now includes closing seven production sites and cutting an additional 11,000 jobs, bringing total planned reductions to around 20,000 positions globally.
CEO Ivan Espinosa outlined the initiative earlier this month as part of what the company has described as a critical phase in its turnaround effort. In the US, where operating margins have been hit despite a rise in sales volumes, Nissan has targeted staff at its Canton, Mississippi plant and salaried employees across human resources, finance, planning and IT functions.
Severance packages offered in Mississippi and beyond
One of the internal messages, sent last week, indicated that separation packages are now being offered as part of the restructuring.
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“While substantial efforts have been made in the US to help right-size Nissan, we need to take additional, limited, strategic action here at a local level,” wrote Nissan Americas Chairman Christian Meunier. He added that the approach was “crucial for Nissan's comeback.”
Although Nissan has not confirmed how many employees have been offered voluntary separation or how many have accepted, the company said the program would be limited in scope and confined to a select group of salaried workers. The latest round of buyouts follows a separate initiative launched in November to reduce headcount in its US operations.
Analysts attribute the company’s prolonged struggle in North America to a dated product portfolio, limited hybrid offerings, and a legacy production strategy tied to the aggressive volume expansion pursued under former CEO Carlos Ghosn. His leadership tenure, which lasted nearly two decades, ended in 2018.
Worldwide salary freeze and plant closures in progress
In a separate internal communication, Nissan confirmed it has paused merit-based salary increases for the current fiscal year across all regions, aligning with broader efforts to reduce structural costs amid continuing pressure in multiple markets.
In addition to workforce adjustments, Nissan is actively consolidating operations. The firm announced it will merge production of pickup trucks in Mexico and Argentina into a single site located in Mexico. It also plans to close its Thai plant by June and may shutter additional facilities in Japan, including its Oppama site, though these plans are yet to be finalized.
As part of its divestment efforts, Renault will acquire Nissan’s stake in their shared Indian venture. Separately, the carmaker revealed it had paid ¥646million ($4.5million) in compensation to former CEO Makoto Uchida and three other senior executives who stepped down at the end of March.
According to a Bloomberg News report, Nissan is also considering raising over ¥1trillion through asset sales and debt issuance. It includes a syndicated loan backed by the UK government, adding a financial dimension to the company’s multi-pronged reset.
