Nissan to cut 20,000 jobs globally, reports say

Nissan is set to announce a leap in its cost-cutting plans that will see 20,000 jobs go globally, according to reports in Japan.

The carmaker, which employs around 6,000 workers at its sprawling manufacturing operations in Sunderland, had already let it be known last November that 9,000 roles would be going amid weak sales and rising costs. But Japanese broadcaster NHK said on Monday it expected that total to more than double.

Money latest: Most crowded holiday hotspots revealed Nissan, which was yet to comment on the claim, is due to reveal full year results covering the 12 months to March on Tuesday morning. They are expected to show a net loss of up to £3.8bn due to a series of writedowns on the value of its operations.

They will be the first results Nissan has declared since the appointment of a new chief executive last month. Ivan Espinosa issued a "significant" downgrade to Nissan's outlook just three weeks ago.

If the job cuts report is true, it would amount to a 15% reduction in the company's worldwide workforce. It is not known if the Sunderland production facilities form part of any planned job cuts or production reductions, of up to 20%, that were reported.

Nissan has, on several occasions since Brexit, called the plant's future into question before proceeding with investment plans. It has invested £2bn in Sunderland since 2023 alone.

The company secured UK government money this year for a new electric powertrain manufacturing facility in Sunderland. But a senior Nissan executive, Alan Johnson, warned more aid was needed just last month, arguing that the UK was "not a competitive place" to build cars.

Nissan, like rivals, is facing challenges on many fronts. Read more:US-UK trade deal 'isn't worth the paper it's written on'Key details in 'historic' US-UK trade deal US trade tariffs of 25% on all car imports has exacerbated pressure on its supply chain and sales.

The latter has been struggling due to weaker-than-anticipated electric car uptake. But the vast majority of its cars made in the UK will be subject to a tariff of just 10% after the UK-US trade deal agreed last week.

It does not currently send Sunderland-made cars to the United States. Most are for export to Europe and the domestic UK market..