Nissan will cut 9000 jobs from its global workforce and slash production by 20% to five millions units a year as part of heavy cost cutting measures.
The Japanese firm is looking to reduce costs by 400 billion yen (£2 billion) after posting drastic drops in revenue (down 79% to £30 billion), pre-tax profit ( 304% to £165 million), and income (277% to £95 million).
This has dropped its 2024 forecast by £6.5bn to £63bn and pre-tax profits by £1.8bn to £753m.
Nissan has not confirmed where it will cut its headcount numbers from.
