Japanese car manufacturer Nissan Motor Corp announced a global workforce reduction of 9,000 people, or about 6 per cent of its more than 1,33,000 employees, as well as a plan to slash global production capacity by 20 per cent.
According to the company, this decision has been taken due to problems related to manufacturing at the global level and falling sales in China and America.
Japanese car manufacturer has said that it will lay off about 9 thousand employees. Globally, the company's production has fallen by about five percent.
Nissan Chief Executive Officer Makoto Uchida said, "These changes do not at all mean that the company is downsizing itself. Nissan will also begin restructuring to grow its business and make it more flexible."
Uchida declined to say which regions will be affected by the cuts or give specifics.
For the latest quarter through September, Nissan racked up a 9.3 billion Yen (USD 60 million) loss, a reversal from the 190.7 billion Yen profit recorded the same quarter a year ago.
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