Nissan shares slump after unveiling plan to cut jobs, production
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Nissan Motor's shares fell by 10% in Tokyo after announcing plans to cut 9,000 jobs and reduce global manufacturing capacity by 20% due to declining sales in China and the US.
November 08, 2024 | 1:00 am
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Nissan Motor's shares experienced a significant drop following the announcement of job cuts and reduced production capacity, indicating potential financial struggles due to declining sales in key markets.
The announcement of job cuts and reduced production capacity is a direct response to declining sales, which negatively impacts investor sentiment and leads to a drop in stock price. The 10% slump in Tokyo trading reflects this negative outlook.
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