Nissan cuts 9,000 jobs after merger collapse with Honda

Nissan's plans for a $60 billion merger with Honda and Mitsubishi have officially collapsed, leaving the company to navigate its financial difficulties alone. Both companies announced the termination of their memorandum of understanding, citing the need for quicker decision-making in a volatile market. Analysts suggest Nissan's insistence on equal partnership and Honda's proposal for Nissan to become a subsidiary contributed to the failure of the negotiations. Despite the setback, Nissan CEO Makoto Uchida is determined to cut costs by approximately $4 billion and implement a restructuring plan that includes job cuts and new vehicle models. Honda, while expressing disappointment over the merger's collapse, noted its commitment to a strategic partnership focusing on electric vehicles. The end of the merger talks poses serious challenges for both companies as they seek to adapt to a rapidly changing automotive landscape.