Nissan has announced a global reduction of 9,000 jobs, approximately 6% of its workforce, in response to a severe financial downturn, with a staggering 70% cut in its profit forecast to 150 billion yen ($754 million). CEO Makoto Uchida, who is taking a voluntary 50% pay cut, stated that the company is facing challenges due to weak sales in North America and increasing competition from Chinese electric vehicle manufacturers. In addition to job cuts, Nissan plans to reduce its global production capacity by 20% and has lowered its sales revenue forecast for the fiscal year from 14 trillion yen to 12.7 trillion yen ($80 billion). The company will also decrease its stake in Mitsubishi Motors from 34% to 24% to bolster its financial standing. Despite these drastic measures, Nissan has not provided a net profit forecast, citing ongoing assessments of costs associated with its turnaround efforts. The impact of these cuts on the Sunderland plant, which employs around 6,000 workers, remains uncertain.