Nissan Motors will layoff 12,500 staff globally, after the company flagged a steep drop in profit. The crisis-hit automaker announced net profit plunged nearly 95 percent in the first quarter. It posted earnings of $59 million from April to June, down from the $1 billion announced in the same period last year. From the 12,500 job cuts, CEO Hiroto Saikawa said 6,400 employees have already been let go in 2018 and 2019. The remaining 6,100 layoffs will be made by 2022. Subscribe to our channel here:
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