by David Lindfield at SLAY
Car manufacturing giant Nissan is reportedly “on the brink of collapse,” putting thousands of American jobs at risk.
The automaker may now only have 12 months to survive, it has been warned.
The Japanese auto firm that employs 17,000 people in the US, and tens of thousands more around the world, has embarked on a huge cost-cutting program.
It comes after the company has been suffering heavy losses.
Last month, Nissan said it would axe 9,000 jobs and 20 percent of its global manufacturing capacity.
The cuts come as the company scrambles to reduce costs by $ 2.6 billion in the current fiscal year amid a sales slump in China and the US, its two biggest markets.
Nissan CEO Makoto Uchida is taking a 50 percent pay cut and it has now been reported that chief financial officer Stephen Ma is stepping down.
However, insiders fear the…
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