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Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell

  • Nissan will lay off 9,000 workers, about 6% of its workforce, due to poor vehicle sales in China and the US.
  • The company plans to cut global production capacity by 20% after reporting a loss from falling sales and rising costs.
  • Chief Executive Makoto Uchida announced a 50% pay cut while stating that a turnaround is promised.
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