The Japanese automaker is making deep cuts to navigate a steep decline in global sales, with layoffs, reduced production, and a renewed focus on EVs and hybrids.

Japanese automaker Nissan reported a loss on Thursday for the fiscal quarter, leading the company to announce it is cutting 9,000 people, around 6% of its workforce. Nissan models did not sell well in the U.

Nissan's CEO has announced he will slash his own salary in half as the company embarks on a major restructuring plan that includes cutting 9,000 jobs globally. The move comes amid a turbulent financial year for Nissan,