Nissan CEO Cuts Salary in Half, Company Laying Off 9,000

Japanese automaker Nissan reported a loss and announced it is cutting 9,000 jobs, around 6% of its workforce, due to poor U.S. sales last quarter. CEO Makoto Uchida is taking a 50% pay cut and reducing global production capacity by 20% to restructure the business for greater resilience. Uchida’s salary cut mirrors other CEOs like Zoom’s Eric Yuan and Container Store’s Satish Malhotra who reduced pay during tough times.

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