On Thursday, Japanese car manufacturer Nissan announced it will cut 9,000 jobs as it lowered its annual sales outlook, describing the situation as “severe.”
“Nissan plans to reduce global production capacity by 20% and decrease its workforce by 9,000,” the company stated. It now expects net sales to be 12.7 trillion yen ($80 billion), a drop from the previous forecast of 14 trillion yen.
