Being in dire financial straights as it is, no one expected Nissan’s revised restructuring plan, due out next month, to call for Global Domination In All Fields. Ghosn is ghone. Regardless, after the rapid expansion and sudden contraction seen over the past decade, it’s still a bit jarring to hear that Nissan’s plan reportedly calls for a significant cut to its sales volume and manufacturing capacity.
More so than previously planned, it seems. (Read More…)
On Thursday, Jaguar Land Rover was reported to be in the midst of a plan that would eventually lay off roughly 10 percent of its UK workforce — roughly 4,500 employees. Considering the company has been forced to endure waning demand for sedans and just about everything with a diesel engine, a bit of restructuring was inevitable. Especially since everyone else is doing it at the moment.
However, JLR’s layoffs won’t be exclusive to Europe, as initially presumed. Despite the vast majority of its workforce residing in the United Kingdom, a small portion of its American staff will likely feel the impact, too. (Read More…)
As part of the overall strategy of lifting Detroit out of bankruptcy, the Detroit Three have signed on to provide the Detroit Institute of Arts with a $26 million contribution to be distributed over the next 20 years.
Though PSA Peugeot Citroen secured funding in a three-way deal between itself, the French government and Dongfeng, new boss and former Renault COO Carlos Tavares has a hard road ahead of him as he rebuilds the ailing automaker.
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