Japanese automaker Nissan plans to cut more than 10,000 jobs globally as it looks to turn around its business, Kyodo News reported Wednesday.
Those additional job reductions, which include early retirement options, come after the automaker said in May it will slash about 4,800 jobs worldwide, the news site said, citing company sources. Nissan has about 139,000 employees around the world.
Kyodo also reported that an announcement is coming on Thursday when Nissan releases earnings for the three months starting April 2019.
A Nissan spokesperson told CNBC the company does not comment on speculation.
Nissan shares were up 0.85% Wednesday morning in Tokyo.
The company has come under pressure: Nissan reported a 44.6% annual decline in operating profit for the 12 months that ended on March 31, 2019. It cited an unfavorable business climate as car sales fell notably in the United States.
For the current fiscal year, Nissan has predicted profits to drop by almost 28%.
Nissan underwent a shakeup in its leadership after former Chairman Carlos Ghosn was first arrested last year over alleged financial misdeeds. Ghosn, who denies the charges, has been accused of misusing company funds and understating his income at the Japanese automaker.
His arrest and subsequent ousting left Nissan’s global alliance with French automaker Renault on uncertain grounds.
Renault owns 43% of Nissan, which in turn holds a 15%, non-voting stake in its partner. Nissan reportedly sees the partnership as lopsided and last month, CEO Hiroto Saikawa said he wanted to preserve equality in the partnership, according to Reuters. For its part, Renault is said to have been seeking more control within Nissan.
