FAST FIVE: Nissan Considers Slashing 20,000 Jobs Worldwide Amid Global Downturn 

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Nissan Considers Slashing 20,000 Jobs Worldwide Amid Global Downturn  Tyler Durden Sat, 05/23/2020 – 07:35 Nissan Motor Co.

is weighing the option to slash more than 20,000 from its global workforce, with many of the job cuts centered in Europe and developing countries, reported Kyodo News.

The company has never managed to sell much more than 5 million or so,” one source told Reuters.

The resizing issue is really being taken into account, it has a lot of consequences on operations for 2020-2022.” Nissan's plan for restructuring would last through March 2023.

At the moment, car sales in the US have crashed the most on record. More than 38 million have filed for unemployment since mid-March, and even though the broader economy has been reopened for weeks — economic turmoil continues.  US Motor vehicle and parts sales  As for the global economy, the World Trade Organization (WTO) published its Goods Trade Barometer this week, shredding any hopes a V-shaped recovery would be seen in the back half of the year.  WTO Goods Trade Barometer A.P.

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