YOKOHAMA (dpa-AFX) – The Japanese car manufacturer Nissan Motors Co. Ltd. (7201.T, NSANF.PK) disclosed Thursday that about 6 percent, or nearly 1,000 people, of 17,000 employees in the United States have accepted early retirement packages. They will leave the company at the end of this year. According to reports, the company has planned to lay off around 9,000 employees worldwide.

The cut was significant after the company expected a 70 percent drop in full-year profit, given the downturn in the market in both China and North America. For the first half year to September, the company has posted a 93.5 percent drop in net profit to $124 million, mainly due to heavy marketing campaign and price war.

Kyodo News of Tokyo has reported that Nissan CEO Makoto Uchida has announced his decision to voluntarily cut pay by 50 percent from November and he expects other executives to follow suit.

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