Nissan, the Japanese car manufacturer, said today it plans to cut 11,000 jobs and seven factories globally following a slump in sales.
Today’s news comes after the brand announced last year it would slash around 9,000 roles last year.
The cost-cutting moves are triggered dipping sales in Nissan’s two main markets, the US and China.
Nissan employs more than 130,000 worldwide including 6,000 at its plant in Sunderland, UK.
The firm reported an annual loss of £3.4bn last financial year, and it refused to give a forecast for this year given the “uncertain nature of US tariff measures.”
Chief executive Ivan Espinosa gave hope to his workers in Sunderland, indicating the production of electric vehicles would ramp up there.
“In Europe we will strengthen our presence by assembling more electric models in Sunderland,” he was quoted as saying in This Is Money.
