Nissan Motor announced it would cut 9,000 jobs and reduce its global production capacity by 20% as it faces challenges in China and the U.S. The Japanese automaker lowered its annual operating profit outlook by 70%, following a prior 17% forecast cut. CEO Makoto Uchida emphasized that Nissan aims to become leaner and more resilient with a reorganization plan to address market shifts. Nissan joins other foreign automakers, grappling with China’s fierce EV market competition from local brands. Nissan’s shares rose over 2% before its earnings report.