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". The company reported a 93 percent plunge in net profit in the first half as CEO Makoto Uchida told reporters that weak sales…

TOKYO: Nissan said it would slash 9,000 jobs and cut global production capacity by a fifth, while revising its annual profit outlook sharply lower as it battles headwinds in China and the United States. Japan's third-largest automaker cut its annual operating profit forecast by 70 per cent to 150 billion y

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". "Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market," a company statement said.

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". "Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market," a company statement said.

Nissan is cutting 9,000 jobs globally to reduce costs, the company said Thursday.Sales fell to 1.6 million units due to higher costs, especially in the