Nissan Cutting 700 Workers at Mississippi Plant on Slow Sales
NEW YORK (Bloomberg) — Nissan Motor Co. plans to cut as many as 700 workers at one of its U.S. factories, adding slower truck and van sales to the list of woes for a company reeling from a leadership crisis.
The Nissan assembly plant in Canton, Miss., will eliminate one shift of Titan and Frontier pickup production, and drop one shift building the NV passenger and cargo vans, according to Lloryn Love-Carter, a Nissan spokeswoman. All direct employees will retain their jobs and only contract workers will be dismissed, she said by phone.
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Nissan Fined for False Advertising
SEOUL (Jiji Press) — South Korea’s antitrust regulator has fined Nissan Motor Co. 900 million won for running false advertisements on fuel economy of two of its vehicle models sold in the country.
The fair trade commission of South Korea also issued a correction order to the major Japanese automaker, the regulator said Wednesday. The two models—the Infiniti Q50 2.2d, a sedan, and the Qashqai, an SUV—were made by Nissan and imported and marketed by Nissan Korea Co.
The commission also decided to file a criminal complaint with public prosecutors against the two firms for their alleged violation of the South Korean law on fair labeling and advertising. The Infiniti Q50 2.2d was sold in South Korea in 2014 and the Qashqai in 2015-2016.
Ghosn’s Renault Lieutenant Drew Extra Salary via Dutch Firm
PARIS/YOKOHAMA (Reuters) — One of Renault boss Carlos Ghosn’s senior executives received an additional six-figure salary unknown to the carmaker’s board via the Dutch joint venture overseeing its alliance with Nissan, according to sources and documents seen by Reuters.
Ghosn and Nissan senior director Greg Kelly, who are at the center of a financial misconduct scandal engulfing the carmaking alliance, approved payments totaling €500,000 ($572,000) to Renault General Secretary Mouna Sepehri, who is responsible for corporate governance in her role as board secretary.
There is nothing to suggest that the payments by Renault-Nissan BV (RNBV) were illegal or violated Renault-Nissan rules, but they highlight governance issues and potential conflicts of interest.
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