F&I Management & Training

TOKYO (Reuters) -- Nissan Motor will cut production by 20 percent and reduce its global headcount by 20,000 by the end of March, the carmaker said Monday.Nissan CEO Carlos Ghosn said the company has no plans to close any factories. Nissan posted a big quarterly loss on Monday and warned it would lose money this year.For the year to March 31, Nissan now expects an operating loss of 180 billion yen ($2 billion) instead of the 270 billion yen profit it projected three months ago. Nissan, 44 percent owned by Renault, expects its net loss at 265 billion yen instead of its earlier projection of a 160 billion yen profit.Saddled with excess capacity and with sales plummeting in developed markets, Nissan has cut 2,000 non-permanent manufacturing jobs in Japan.

DATED: 09.02.09

FEED: ANE