Photos: Nissan downsizes after posting biggest loss in 20 years

Japanese automaker Nissan laid out plans for wide-ranging cuts and re-structuring on May 28 after sinking into the red for the first time in 11 years. Spread over four-years, they include the closure of manufacturing plants in Spain and Indonesia as the coronavirus pandemic squashes global demand and disrupts production. Even before the spread of the novel coronavirus, slumping profits had forced Nissan to ease up on an aggressive expansion plan pursued former top-boss Carlos Ghosn. The pandemic has only piled on the urgency to downsize.

Updated on: May 28, 2020 7:13 PM IST

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Nissan employees gathered in protest in front of the car manufacturer's plant in Barcelona. Nissan Motor Co. outlined a new plan today to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated its downward turn. (Lluis Gene / AFP)

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Cars sit parked outside a parts warehouse at the Nissan Motor Co. plant in Barcelona on May 28. Under a new four-year plan, the automobile manufacturer will slash its production capacity and model range by about 20%. Nissan will also shut its plant in Indonesia, leave the South Korean market and pull its Datsun brand from Russia. (Angel Garcia / Bloomberg)

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Demonstrators block the Ronda del Litoral highway following a protest outside the Nissan Motor Co. plant in Barcelona on May 28. Yokohama-based Nissan’s chief executive, Makoto Uchida, has said that its European production will be centered at its British plant in Sunderland. (Angel Garcia / Bloomberg)

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Nissan workers react during a protest against the loss of some 3,000 direct jobs outside their factory in Barcelona. Workers’ unions have warned 20,000 more jobs in Nissan’s supply chain in Spain are also at risk if Nissan closes its factory in Barcelona and two smaller ones in nearby towns, AP reported. (Emilio Morenatti / AP)

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A view of the facade of the Nissan Motor Co. plant in Barcelona on May 28. Nissan has spent much of the past year seeking to recover from the November 2018 arrest of its former chairman, Carlos Ghosn, over financial misconduct allegations, including under-reporting future compensation and misusing Nissan money. (Angel Garcia / Bloomberg)

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“We are going to keep our fight, putting in check governments and asking them to support us in reverting this decision,” Juan Carlos Vicente, head of the workers’ committee was reported by AP to have told a crowd that quickly moved to put fire to a pile of tires. (Lluis Gene / AFP)

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Nissan workers march during a protest in Barcelona on May 28. Nissan Motor Co.’s decision to close its factories marks an imminent end to four decades of vehicle production by the Japanese automaker in Spain’s second city. The automaker had begun production in Barcelona in 1983. (Emilio Morenatti / AP)