Nissan cuts 20000 jobs, shuts 7 plants after $4.5 billion loss

Nissan Motor Corp. faces a significant downturn, reporting a 670.9 billion yen loss for the last fiscal year. In response, the automaker is implementing drastic measures, including slashing its global workforce by 15% (around 20,000 employees) and reducing its number of auto plants from 17 to 10. Falling sales in China and U.S.