Nissan Motor Co.’s new chief executive officer, Ivan Espinosa, says his rescue plan for the ailing automaker can work even without the help of an outside partner.

Nissan will begin restructuring the company and is reportedly planning to slash over 10,000 jobs in an attempt to cut loss

Nissan Motor is set to cut over 10,000 jobs globally as part of a major restructuring effort, following weak sales in China and the U.S. The company anticipates a record net loss due to impairment charges and is realigning operations to strengthen its position in the competitive auto market.

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.

Japanese automaker joins other automakers in pointing to new U.S. tariffs as weighing on their financial results.

Nissan Motor said on Friday it would abandon a plan to build a $1.1 billion factory for electric vehicle batteries on Japan's southwestern island of Kyushu, marking the latest change of plans for the troubled automaker.