![[Global] Nissan suspends merit-based pay rises](http://gpa.net/cdn/shop/articles/bigstock-Samara-Russia--March-----285894331_a28474a1-a2a6-45a6-88d8-bde634fa34b7_1200x.jpg?v=1749175431)
In an internal communication, Nissan confirmed the suspension of merit-based wage increases for the current fiscal year across all regions. The move is part of broader efforts to reduce structural costs in the face of ongoing pressure in multiple markets, HR Grapevine reports.
In addition to workforce adjustments, the Japanese car producer is actively consolidating operations. Nissan announced that it will merge production of pickup trucks in Mexico and Argentina into a single site located in Mexico.
It will also reportedly close its Thai plant by June and could potentially close additional facilities in Japan, including its Oppama site. These plans have yet to be finalised.
As part of divestment efforts, Renault is set to acquire Nissan’s stake in their shared Indian venture. Nissan separately revealed that it paid former CEO Makoto Uchida and three other senior executives who stepped down at the end of March ¥646 million ($4.5 million) in compensation.
According to reporting from Bloomberg News, Nissan is also considering raising over ¥1 trillion through asset sales and debt issuance. The fundraising includes a syndicated loan backed by the UK government.
Source: HR Grapevine
In an internal communication, Nissan confirmed the suspension of merit-based wage increases for the current fiscal year across all regions. The move is part of broader efforts to reduce structural costs in the face of ongoing pressure in multiple markets, HR Grapevine reports.
In addition to workforce adjustments, the Japanese car producer is actively consolidating operations. Nissan announced that it will merge production of pickup trucks in Mexico and Argentina into a single site located in Mexico.
It will also reportedly close its Thai plant by June and could potentially close additional facilities in Japan, including its Oppama site. These plans have yet to be finalised.
As part of divestment efforts, Renault is set to acquire Nissan’s stake in their shared Indian venture. Nissan separately revealed that it paid former CEO Makoto Uchida and three other senior executives who stepped down at the end of March ¥646 million ($4.5 million) in compensation.
According to reporting from Bloomberg News, Nissan is also considering raising over ¥1 trillion through asset sales and debt issuance. The fundraising includes a syndicated loan backed by the UK government.
Source: HR Grapevine
