Nissan Motor Company has announced plans to cut 9,000 jobs globally and reduce its production capacity by 20% amid a sharp decline in sales across its major markets, including North America, Japan, and China. The automaker's operating profit fell by 90%, prompting a downgrade of its annual profit forecast to ¥150 billion from ¥500 billion, significantly below analyst expectations. CEO Makoto Uchida will take a 50% pay cut as part of the restructuring efforts aimed at creating a more resilient business. This move reflects Nissan's ongoing struggles against increasing competition from electric vehicle producers like Tesla and BYD. Despite these drastic measures, Uchida emphasized that the company is not downsizing but rather restructuring to better adapt to market changes. Nissan's recent challenges mark a continuation of a turbulent decade for the brand, which has struggled to maintain its position in the automotive market.