The Japanese carmaker is embarking on a turnaround plan that includes cutting global production capacity by a fifth.

TOKYO — Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S.

Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.

CEO Makoto Uchida announced the company's restructuring plan, which involved tough and painful decisions. The automotive industry is facing potential serious challenges. Another company, whose representatives are speaking very frankly,

Nissan is in full-scale emergency mode to save itself: the automaker is cutting 9,000 jobs, slashing production capacity, and selling off its stake in Mitsubishi Motors.

Japanese automaker Nissan has announced a major restructuring including a global reduction of 9000 jobs as it grapples with declining vehicle sales and rising costs

Nissan Motor has announced a significant restructuring plan aimed at addressing severe financial and operational challenges.

Nissan Motor Co. shares extended their losses Monday after moves to cut thousands of jobs and slash production capacity cast doubt on Chief Executive Officer Makoto Uchida’s plans to turn around the carmaker.

Nissan's share price has indeed fallen sharply on the Tokyo Stock Exchange, losing JPY 369 (-36.00, or -8.90%) in the last five days since the announcement of the reduction.

CEO Makoto Uchida announced the company's restructuring plan, a move that involved difficult and painful decisions. The automotive industry is facing the threat of a severe crisis. Nissan is another brand facing tough times.