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Nissan cuts production, and jobs

Nissan has said that it will be forced to cut global car production by 200,000 units this year to reduce stockpiling of vehicles as car sales crash.

The drop in output will mean a loss of 2,000 jobs, from both American and Japanese plants.

These losses are in addition to 1,700 jobs lost in Nissan's Barcelona plant, which produces light trucks and SUVs.

Although Nissan's sales in Europe are on the rise, operating profits have dived 19%, while profits have declined by a massive 88% in the US.

Overall, Nissan has revised its annual profit predictions downwards by about two thirds, with total vehicle sales reduced from 3.9 to 3.77 million.

At this stage, the Sunderland plant is not affected.

Shane O' Donoghue