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 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.

Nissan's chief executive acknowledged the company didn’t respond quickly or flexibly enough to global changes, including market tastes and soaring material costs.

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

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 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.