All three of Japan’s largest carmakers are struggling with tough market conditions in the world’s two largest economies. In the U.S., tariffs have roiled their global supply chains, and in China, they face competition from domestic car companies that sell next-generation electric vehicles at cutthroat prices.

Japanese automaker Nissan said it will shutter 7 plants and cut thousands of additional jobs in a second round of job cuts after millions of dollars in profit losses last year.

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.

The beleaguered Japanese giant said on Tuesday it would cut 20,000 jobs and close seven factories by 2027 as it slips deeper into crisis.

Nissan Motor plans to cut around 20,000 jobs worldwide—more than twice the 9,000 announced in late 2024—as part of a sweeping restructuring effort aimed at reversing declining sales and long-term underperformance.

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