Nissan Motor is set to cut 9,000 jobs globally, representing a significant workforce reduction from its total of 133,000 employees.
The company will also reduce its production capacity by 20% to improve liquidity and profitability following a drastic decline in financial results.
This announcement coincides with a reported 93.5% drop in net profit, attributed to falling sales and adjustments to decreasing demand.
Nissan aims to enhance adaptability and resilience in a rapidly changing business environment, with forthcoming changes in executive leadership and salary cuts for top executives.