By bno - Taipei Office Japan’s once-unshakeable auto industry is facing a dramatic reckoning as major manufacturers struggle with tumbling profits, global trade tensions and internal upheaval. In just the past few days,

Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

TOKYO — Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss for the fiscal year that just ended amid slipping vehicle sales in China and other nations.

In a recent interview with French business news channel BFM Business, former Nissan CEO and international fugitive Carlos Ghosn described his former employer as a company in “dire straits.” He further stated that he “predicted Nissan ’s decline” and the “demise” of the alliance between it and French automaker Renault.

Japan's Nissan Motor has decided to suspend operations at some domestic factories as part of a business restructuring effort, the Nikkei business daily reported on Tuesday.

Nissan is slashing about 15% of its global workforce, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended. View on euronews