Nissan to ax 9,000 jobs, cut global output as U.S. business falters

Nissan Motor Co. said Thursday it will cut 9,000 jobs and reduce global output capacity by 20 percent as the Japanese carmaker's U.S. and Chinese businesses continue to struggle.The job cut represents about 7 percent of its entire workforce. Nissan also said it will sell part of its stake in its alliance partner Mitsubishi Motors Corp.The maker of the Leaf electric car and the Ariya sport utility vehicle will downsize its global production capacity to about 4 million vehicles from the current 5 million cars, it said.For the fiscal half ended September, its net profit dropped 93.5 percent to…READ FULL ARTICLE