Nissan finds 20,000 pieces of pink paper and hands them out to its employees.

[Ginsu]

This past October-December was Nissan's first quarterly loss since the company began reporting quarterly earnings in 2003. Come fiscal year end in March, Nissan will post its first full-year net loss ($3.6 billion) in nine years. The company's global workforce will now be reduced from 235,000 to 215,000.

[yo wesleyy]

thats sad to hear about. in our economy it seems like every time we look up another company is laying off thousands of employees.

[Bubs daddy]

http://www.iht.com/articles/20...8.php

HONG KONG: Nissan Motor on Monday joined its Japanese carmaking rivals in forecasting a big loss for the current financial year, and said it would eliminate 20,000 jobs, in one of the most aggressive cuts announced by any Japanese company since the start of the global downturn.

The development reflects the growing urgency felt by Japanese manufacturers across the board as it becomes clear that the slowdown, combined with the persistent strength of the yen, is hitting more severely than thought.

"In every planning scenario we built, our worst assumptions on the state of the global economy have been met or exceeded, with the continuing grip on credit and declining consumer confidence being the most damaging factors," the Nissan chief executive, Carlos Ghosn, said in a statement accompanying Nissan's earnings release for the three months ended Dec. 31.

[matt_a]

Yeah, I saw that too. It just goes to show you that this is a global problem, not just a U.S. thing. I feel bad for them but I did my part...I bought one.

[VersaMG08]

Seriously folks, I'm getting tired of negative news. I sure hope the economy turns around and we have a recovery/impression, somebody has to make a change or else.

[Offshore1]

I sure hope the economy turns around

The only way that will happen is if we all start spending money.Start spending, start talking "upbeat" and keep an upbeat attitude and it will get better. I believe the economy HAS started to ever so slightly turn around.

[feloniousmonk]

The only way that will happen is if we all start spending money.Start spending, start talking "upbeat" and keep an upbeat attitude and it will get better. I believe the economy HAS started to ever so slightly turn around.

It's not that simple. You can't just spend your way out of an recession. It's part of it, but not all. You can spend all your money while the banks continue to not lend (instead buy corporate jets, pay exec bonuses, etc.) and it won't make a single dent. This economy needs jobs for the masses and job security for all first. Then, people will feel safer about spending; rich and poor. From there, other things will follow. Can't spend without income! And if you spend on credit, well, that's exactly how this mess started.