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.

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.

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

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.

The Japanese automaker is making deep cuts to navigate a steep decline in global sales, with layoffs, reduced production, and a renewed focus on EVs and hybrids.