Nissan announces 9,000 job cuts, slashes sales forecast

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

"Nissan will cut global production capacity by 20 per cent and reduce its global workforce by 9,000," said the company, which now expects net sales of 12.7 trillion yen ($80 billion), down from 14 trillion previously forecast.