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Nissan to shut design studios in California, Sao Paulo
Business
Nissan is shutting its design studios in California and Sao Paulo as part of a big "Re:Nissan" restructuring.
The company's also downsizing teams in London and Japan, aiming to focus all design work into five main hubs—Los Angeles, London, Shanghai, Tokyo, and Atsugi—by the end of fiscal 2025.
20,000 jobs will be cut worldwide
About 20,000 jobs will be cut worldwide, and Nissan plans to reduce annual car production from 3.5 million to 2.5 million by 2027.
These tough moves follow a huge loss of ¥670.9 billion (about $4.5 billion) last year.
Studio Six now leads US design efforts
Nissan's LA-based "Studio Six" now leads US design efforts.