Nissan to lose 20,000
Nissan is in shock today as the Japanese company does the previously unthinkable, and announces massive redundancies worldwide.
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Nissan's long-term policy of jobs for life had already been abandoned - but even so, to make large numbers of people redundant is both culturally and socially shocking for the company which has announced that 20,000 people are to be lose their jobs world wide.
Many factories are already on short time, and have had extended holidays, but as the demand for new cars continues to fall, Nissan is suffering along with the rest of the industry.
Nissan officials have said that economic conditions are bad now - but they expect them to get worse.
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