Nissan closing Spanish factory after record losses
The Japanese automobile manufacturer Nissan is closing two factories, one in Spain and the other in Indonesia, because they were operating at a loss for the first time in 11 years. It's part of a drop in global demand, as well as production, caused by the coronavirus pandemic. Globally, Nissan's output has fallen 20 percent. Workers unions in Spain are warning that if Nissan closes its plant in Barcelona and two smaller ones in the vicinity, 3,000 jobs would be in danger directly along with another 20,000 jobs connected to its supply chain. The country's government has begun negotiations to try to convince the company to shift its strategy. Nissan recorded a loss of $6.2bn for its fiscal year ending in March.