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.

Nissan has announced plans to slash tens of thousands of jobs, which will account for about 15% of its global workforce. In addition to the job cuts, it will also close seven of its 17 auto plants.

The automaker believes that its current restructuring measures are insufficient and is hurrying to formulate additional measures.