Nissan’s South Korean Unit Planning Voluntary Redundancies: Source | 5/16/2016 | Staff
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SEOUL (Reuters) – Nissan Motor Co’s South Korean unit plans to seek applications for voluntary redundancy, a person with knowledge of the matter said on Friday, as the automaker’s shares sank to their lowest in more than a decade.

Nissan on Thursday cut its annual operating profit forecast by 43%. Sources said plans to slash jobs, close manufacturing sites and drop products have been already prompted, as the automaker steps back from an aggressive pursuit of market share championed by former leader Carlos Ghosn.

Addition - Nissan - Korea - Plans - Redundancy

In addition to Nissan Korea’s plans for voluntary redundancy, some of its around 60 employees have already submitted letters of resignation, the person said, declining to be identified as the issue was sensitive.

“We are committed to driving an efficient organization to take us on a growth path together. As such, we...
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