Nissan to cut 10% of European workforce, FT reports

Nissan (NSANY) is planning to cut roughly 10% of its European workforce and consolidate production lines at its Sunderland Plant as part of a broader restructuring effort, while exploring partnerships such as with Chery to utilize excess capacity and improve financial performance, The Financial Times’ Kana Inagaki reports. In a statement to the FT, the company said the measures are “essential to protect Nissan’s future in Europe, safeguard jobs in the long term and ensure we can profitably compete in Europe.”