Nissan Plans $2.8 Billion In Cuts, Dumps Datsun Brand As It Restructures

Nissan plans $2.8 billion in cuts, dumps Datsun brand as it restructures

TOKYO — Nissan Motor Co plans to cut $2.8 billion in annual fixed costs as part of its restructuring plan, Bloomberg News reported on Wednesday, as it braces for a drop in sales that could complicate its recovery from years of poor profitability.

Following a three-year spell of tumbling profits, Nissan will announce its restructuring plan on May 28, its latest attempt to slash costs after a strategy of aggressive selling to chase market share has pummeled its bottom line.