Name: Nissan to Furlough 10,000 Workers in Mississippi and Tennessee | The Motley Fool
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Nissan to Furlough 10,000 Workers in Mississippi and Tennessee | The Motley Fool

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By-Apr 7, 2020 at 4:42PMYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.Market Cap$44BToday's Change(0.50%)&nbsp;$0.13Current&nbsp;Price$26.08Price as of September 12, 2022, 4:00 p.m. ETJapanese automaker Nissan closed its U.S. automotive manufacturing plants on March 20 in order to help slow the spread of COVID-19. Now, it's furloughing the workers at those plants -- about 10,000 of them.Quoting Nissan spokeswoman Lloryn Love-Carter, CNN reported today that Nissan is furloughing workers at its plants in at plants in Canton, Miss. and Smyrna and Decherd, Tenn. Nissan apparently told its workers to apply for unemployment through at least April 27, indicating that it hopes to restart production then. &nbsp;Separately, Reuters reports that Honda Motor will also furlough 14,400 of its workers in plants scattered across Ohio, Indiana, Alabama, Georgia, and South Carolina. Honda is not planning to restart production until May 1. &nbsp;Containing coronavirus apparently isn't the only reason for the closures and furloughs, either. The Wall Street Journal reports that March car sales in the U.S. declined 40% year over year, with both Nissan and Honda suffering 48% declines. If homebound consumers aren't buying cars, it makes little sense for Nissan and Honda to keep building them. &nbsp;And this could get worse, for and everyone else. It's starting to look like a negatively reinforcing cycle is building, in which laid-off workers lack paychecks with which to buy goods and services. Such decreased demand in turn spurs more layoffs (or furloughing, or both), fewer paychecks, less demand, and so on.Even after the U.S. beats the coronavirus pandemic, we may very well have a deep to deal with before this cycle breaks.*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.Market-beating stocks from our award-winning analyst team.Stock Advisor Returns368%&nbsp;S&amp;P 500 Returns120%Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/12/2022.Discounted offers are only available to new members. Stock Advisor list price is $199 per year.Cumulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted Return since 2002. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns.Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.Current

By-Apr 7, 2020 at 4:42PMYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.Market Cap$44BToday's Change(0.50%)&nbsp;$0.13Current&nbsp;Price$26.08Price as of September 12, 2022, 4:00 p.m. ETJapanese automaker Nissan closed its U.S. automotive manufacturing plants on March 20 in order to help slow the spread of COVID-19. Now, it's furloughing the workers at those plants -- about 10,000 of...

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Nissan to Furlough 10,000 Workers in Mississippi and Tennessee | The Motley Fool

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