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International Business Times
International Business Times
Business
Hiroshi HIYAMA

Nissan Announces 9,000 Job Cuts, Slashes Sales Forecast

Nissan Makoto Uchida Carlos Ghosn Japan
Nissan did not issue a net profit forecast on Thursday, having downgraded it in July to 300 billion yen (Credit: AFP)

Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle "a severe situation".

The company reported a 93 percent plunge in net profit in the first half as CEO Makoto Uchida told reporters that weak sales in the North American market were a major factor.

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