Nissan Motor shares slumped 6% in Tokyo trade Friday, a day after the Japanese automaker said it would cut 9,000 jobs and a fifth of its manufacturing capacity as it struggles with sales in China and the United States. On Thursday, Japan’s third-biggest ...

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

Nissan did not specify if its job cuts will include any U.S. workers, while affected Stellantis employees all work in Ohio.

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.

Around 9,000 job cuts are expected at Nissan, about 20% of its global manufacturing capacity, as per the automaker.

Nissan is reporting a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned.

Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle "a severe situation".

Nissan Motor shares slumped 6% in Tokyo trade on Friday, a day after the Japanese automaker said it would cut 9,000 jobs and 20% of its manufacturing capacity as it struggles with sales in China and the United States.

Nissan President and CEO Makoto Uchida volunteered to immediately begin forfeiting half of his monthly compensation, and other executive committee members also volunteered to take pay cuts.