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10 November, 1999Following is additional information regarding the radical overhaul of Japan's second-largest carmaker.
JAPAN: With reference to the October 19th IMF website and newsbriefs news item concerning job cuts at Nissan, the IMF-affiliated Japan Council of Metalworkers' Unions - IMF-JC has said that the reported changes in factory shifts will not take place.
Also, regarding Nissan's intention to include stock options as part of a compensation system to be put into action, these stock options will be offered only to company executives and managing directors.
Nissan Motor Company, Ltd. has stated in a press release that the reported 21,000 global jobs reduction "will be achieved through natural attrition, an increase in part-time employment, spin-off of non-core businesses, and early retirement."
Also, regarding Nissan's intention to include stock options as part of a compensation system to be put into action, these stock options will be offered only to company executives and managing directors.
Nissan Motor Company, Ltd. has stated in a press release that the reported 21,000 global jobs reduction "will be achieved through natural attrition, an increase in part-time employment, spin-off of non-core businesses, and early retirement."