The announcement on Thursday shows how a crisis - brought about by sluggish sales and rising costs - is worsening at Japan's No. 2 automaker even as it tries to recover from a financial misconduct scandal surrounding ousted Chairman Carlos Ghosn.
Its first-quarter operating profit plunged 98.5 percent to 1.6 billion yen as it continues to struggle in North America, a key market where it has been stung by mounting costs of vehicle discounts to keep up with rivals. The automaker is widening job cuts initially announced in May as it struggles to improve weak profit margins in the United States, where Ghosn for years had pushed to aggressively grow market share during his time as CEO.
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