Japanese automaker Nissan reported a loss on Thursday for the fiscal quarter, main the corporate to announce it’s reducing 9,000 individuals, round 6% of its workforce. Nissan fashions didn’t promote properly within the U.S. final quarter.
Makoto Uchida, Nissan’s CEO, informed reporters that he’s taking the scenario “very severely,” in line with the AP—and reducing his wage in half.
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Uchida stated he was taking a 50% pay minimize and the corporate is reducing its manufacturing capability globally by 20%.
In 2022, Uchida made ¥673m (round $4.5 million), per the BBC.
“Nissan will restructure its enterprise to develop into leaner and extra resilient,” he added.
Uchida is not the primary CEO to cut back their pay when enterprise is down.
In 2023, Zoom CEO Eric Yuan minimize his wage by 98% amid a layoff announcement. Later that yr, Container Retailer CEO Satish Malhotra took a voluntary 10% pay minimize in order that staffers might obtain advantage bonuses.
In 2013, Nintendo’s CEO famously minimize his wage in half to keep away from layoffs.
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