00:00Nissan has announced it will be closing 17 of its manufacturing facilities across the
00:06globe, following a staggering financial loss of around £3.4 billion.
00:10This move will see around 20,000 jobs cut worldwide, about 15% of the company's global
00:17workforce, as it tries to recover from slumping sales and the collapse of a major merger with
00:22Honda. The closures are part of a major restructuring plan aimed at stabilising the business by
00:292006. While much of the impact will be felt overseas, attention here in the UK has quickly
00:34turned to Nissan's plan in Sunderland, a cornerstone of the North East economy, employing more than
00:406,000 people. For now, Sunderland is not on the closure list, but that hasn't eased all
00:46concerns. Just recently, the company announced it was stopping production of cylinder heads
00:51at its engine plant there, after a contract with Renault ended. It's a worrying sign and
00:57one that's prompted a swift response from local MPs. North East representatives say they're
01:02keeping a close eye on the situation. They're urging Nissan to safeguard jobs in the region
01:08and ensure the Sunderland plant remains central to its future. There's also pressure on the
01:13government to step in, exploring options for investment in electric vehicle production and
01:17other measures that could secure the long-term future of the plant. North East Mayor Kim McGuinness
01:24has expressed strong support for Nissan's Sunderland plant amid the company's global restructuring.
01:30She recently highlighted the recent £9.6 million investment from the North East combined authority
01:35in a new training facility in Sunderland, underscoring the commitment to developing a skilled workforce
01:41workforce for the future of the automotive industry in the North East.
Comments