Nissan Cuts 9,000 Jobs, Lowers Profit Forecast Amid Struggles in Chinese Market

Nissan Motor Co. is making sweeping cuts across its global operations, announcing a plan to reduce its workforce by 9,000 and cut 20% of its worldwide production capacity. These measures come as Japan’s third-largest automaker battles rising competition from Chinese electric vehicle (EV) manufacturers, who have seized market share in the booming EV sector.

The job cuts are part of Nissan’s larger strategy to address declining profits and focus on profitability in a challenging market environment. Nissan has also slashed its annual profit forecast, projecting a. . .