Nissan Cuts 9,000 Jobs and Slashes C.E.O.’s Pay in Half

[SoCalDave]

It's been a long time coming...

Nissan Cuts 9,000 Jobs and Slashes C.E.O.’s Pay in Half

The Japanese automaker is carving deep cuts in its global operations as it struggles with a steep drop in sales.

www.nytimes.com

 

[4Waters]

It's been a long time coming...

Nissan Cuts 9,000 Jobs and Slashes C.E.O.’s Pay in Half

The Japanese automaker is carving deep cuts in its global operations as it struggles with a steep drop in sales.

www.nytimes.com

Pay wall, what did they cut his pay down to and what is the reasoning for the layoffs and pay cut

 

[Singleton]

Pay wall, what did they cut his pay down to and what is the reasoning for the layoffs and pay cut

Nissan Motor (7201.T), opens new tab will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S.

Uchida said he would voluntarily forfeit 50% of his monthly compensation starting this month and the other executive committee members will also voluntarily take a pay cut.
Nissan will cut its production capacity by 20%, reduce vehicle development lead time to 30 months and deepen collaboration with its partners including Renault and Mitsubishi Motors

 

[Xtrmwakeboarder]

Probably took a pay cut and will get the difference on the back end with equity….

 

[TPC]

Probably took a pay cut and will get the difference on the back end with equity….

,,, then the tax break,, probably a 0% cut when the numbers tally.

 

[Sportin' Wood]

Probably took a pay cut and will get the difference on the back end with equity….

,,, then the tax break,, probably a 0% cut when the numbers tally.

It's unlikely his salary is his primary compensation. He'll get a massive stock allocation regardless. The key is the stock value. They will cut jobs for the working man to protect shareholder value.