Nissan announced a 670 billion yen (c. £5.1 billion) loss, the first in eleven years. It presented a four-year, 300 billion Yen, cost saving strategy, which will include the closure of its assembly plant in Barcelona with the expected loss of some 2,800 jobs. Nissan also said it would close a plant in Indonesia.
Nissan’s Sunderland plant, which employs around 7,000 people, has avoided any immediate cuts and was described as remaining an important part of the Company’s European business. Nissan management said the company would maintain core manufacturing at Sunderland and improve its efficiency. The plant is scheduled to restart vehicle assembly in June.
However, the company has identified Japan, China and North America as core markets, but not Europe where it operates in alliance with Renault, which could move some production to Sunderland, according to some reports.