Nissan forecasts annual loss, to cut 20,000 jobs

TOKYO (Reuters) - Nissan Motor Co said it would cut 20,000 jobs and joined a growing list of automakers warning of red ink this year in what would mark its first loss since Chief Executive Carlos Ghosn took the reins a decade ago.

Well, more and more people are being kicked from the cube to the curb. This time it is Nissan. With plummeting sales and excess headcount and capacity, Nissan is having to lay off employees. Even with 12,000 employees lost through attrition, Nissan is having to release 20,000 by March, 2010.

I share in their employee's pain.