Nissan to solicit early retirements in Japan

Tokyo (Jiji Press) — Nissan Motor Co. plans to solicit early retirements from administrative staff in Japan from July, it was learned.

Nissan has already notified employees of the plan and will provide details to those subject to the plan, company officials said Sunday.

The company is seen stepping up its restructuring efforts at home to overcome its current serious business situation. It last solicited early retirements in 2007.

Nissan said earlier this month that it will cut a total of 20,000 jobs at home and abroad, including 3,600 administrative positions.

Nissan President and CEO Ivan Espinosa told a press conference on Tuesday that the job cuts are regrettable but necessary for the company’s survival.

The early retirement program will seek volunteers from among employees who are between 45 and 64 years old, do not work in the development, production or design divisions, and have worked at the company for at least five years. How many such volunteers will be accepted is not known.

The company is also expected to offer support for them to find new jobs.

In the year ended this March, Nissan logged a consolidated net loss of 670.8 billion yen, due to sluggish sales in the United States and China.

The company is now hurrying to rebuild its business, including considering closing two plants in Kanagawa Prefecture, south of Tokyo, in an effort to streamline excessive production equipment.