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Battling headwinds in China and the U.S., Nissan has announced major job cuts for the year, cutting its annual operating forecast by 70%. As per Nissan’s restructuring plans, 9,000 jobs will be eliminated and 20% of the global manufacturing capacity will be cut.
Japan’s third-largest automaker has faced a prominent decline in its sales and revenue since 2019, which led to the removal of chairman Carlos Ghosn and a reversal of its partnership with Renault SA. The company was also forced to recall 300,000 SUVs in the U.S. back in 2022, after a major defect in the car that caused