Nissan Motor Co. said Tuesday it will shut seven vehicle plants and cut 20,000 jobs globally, more than double the initially planned number, to speed up restructuring after logging a net loss of 670.90 billion yen ($4.5 billion) for fiscal 2024.Japan's third-biggest automaker by volume, which has been grappling with poor sales in the United States and China, will now see its total workforce reduced by around 15 percent. To address overcapacity issues, its vehicle plants will be reduced from 17 to 10, including some in Japan, by fiscal 2027.Nissan plans to shrink global output capacity exclu…READ FULL ARTICLE
