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 percent 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.