Nissan’s recovery plan also aims to cut operating costs by $3.4 billion by aligning production with global demand and strengthening strategic alliances, such as its partnerships with Renault in Europe and Dongfeng in China.

Nissan's new chief executive Ivan Espinosa faces an uphill task turning around the troubled Japanese automaker with no guarantee it can reverse sliding top-line sales, analysts said, even as he moves to slash costs.

Nissan layoffs in 2025 will see 20,000 workers affected with more changes coming as a result of the new CEO at the helm.

Nissan on Tuesday announced it will close seven of its global vehicle plants and slash its workforce by 20,000 by 2027 as part of a major cost-saving drive to save the company.

After announcing massive layoffs and factory closures, Nissan said its Tennessee and Mississippi factories remain important to the company.

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