(Zero Hedge)—Nissan plans to cut 1,500–2,000 U.S. jobs and reduce production by 25% as part of a strategic review, according to GuruFocus.
It aims to close a production line at its Smyrna, TN plant by April and another at its Canton, MS plant later in the year. The company is reviewing its EV production and investment strategy.
-
The Importance of Prayer: How a Christian Gold Company Stands Out by Defending Americans’ Retirement
Spokesperson Shiro Nagai stated the reports are unofficial, and Nissan declined further comment. However, it wouldn’t be an unreasonable move for the automaker which has struggled in recent years and is in the midst of considering a merger.
Recall back in late December we wrote that the struggling automaker was considering a tie-up with Honda that would make it the world’s third largest automaker.
Facing competition from EV leaders like Tesla and China’s BYD, Japanese automakers are uniting to cut costs and accelerate their transition to electric vehicles.
Honda’s president, Toshihiro Mibe, stated last month that the companies plan to form a joint holding company, maintaining their brands while Honda leads management. A merger agreement is targeted for June, with the holding company expected to list on the Tokyo Stock Exchange by August 2026.
There is still to study and discuss, Mibe said. He commented: “Frankly speaking, the possibility of this not being implemented is not zero.”
“We have come to the realization that in order for both parties to be leaders in this mobility transformation, it is necessary to make a more bold change than a collaboration in specific areas,” he added.
AP writes that a potential merger between Honda, Nissan, and Mitsubishi could create an automotive giant valued at over $50 billion, helping them compete with industry leaders like Toyota and Volkswagen.
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
