YOKOHAMA - Nissan Motor Co Ltd warned on Wednesday that first-quarter profit tumbled around 90 percent, a day before it is expected to announce more than 10,000 job cuts as the crisis deepens at Japan
's second-largest automaker.
Nissan declined to comment on the job cuts. It said a Nikkei business daily report that it suffered roughly a 90 percent year-on-year drop in first-quarter operating profit was "broadly accurate". Its shares ended the day up nearly 1 percent earlier. "Deteriorating performance in the United States is a big issue that we're facing," Motoo Nagai, chairman of the automaker's newly formed audit committee, said on Wednesday.
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