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Honda Motor reports 76% plunge in operating profit in huge earnings miss
Fourth-quarter revenue was in line with LSEG mean estimates, but operating profit plunged, missing estimates.
Revenue for the full financial year rose 6.2% year on year, but operating profit fell 12.2% and missed expectations.
Japan’s second-biggest automaker explained that the impact of tariff policies worldwide would be very significant on its business, with the frequent revisions making it difficult to formulate an outlook
Nissan to cut 11,000 more jobs and shut seven factories
The planned layoffs mean the Japanese carmaker has now cut about 15% of its workforce in the past year.
www.bbc.com
Nissan to cut 11,000 more jobs and shut seven factories
Falling sales in China and heavy discounting in the US, its two biggest markets, have taken a heavy toll on earnings, while a proposed merger with Honda and Mitsubishi collapsed in February.
The latest cutbacks bring the total number of layoffs announced by the company in the past year to about 20,000, or 15% of its workforce.
