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Nissan to cut 1,000 jobs in Mexico amid market challenges

Japanese carmaker Nissan Motor Co. Ltd. is set to lay off about 1,000 workers at its Cuernavaca and Aguascalientes manufacturing facilities in Mexico due to "challenging market conditions," Reuters reported Dec. 21, citing the company's statement.

The company's move came amid a "decline suffered by the Mexican automotive industry," driven by mounting costs of raw materials, among other factors.

A Nissan spokesman told the news outlet that although the company has not yet decided how the cuts will be distributed across the two plants, it has started downsizing in Aguascalientes facility.

In May, Nissan said it will cut production in North America by up to 20% amid falling demand in the U.S. This move followed a plunge in automaker's sales in April.

The automaker also saw an 18.7% year-over-year decline in U.S. auto sales for November.