Nissan is cutting 9,000 jobs worldwide to cut costs.

• Nissan is cutting 9,000 jobs worldwide to cut costs, the company said Thursday.
• Sales fell to 1.6 million units due to rising prices, especially in the US.
• Nissan will reduce production capacity by 20%, and executives will cut salaries.

Nissan is cutting 9,000 jobs worldwide as it tries to cut costs, the Japanese auto giant said in an earnings report on Thursday.

Nissan said sales fell year-on-year to 1.6 million vehicles due to rising selling and production costs, particularly in the United States. That translated into much lower revenue: Profit for the quarter ended September was 32 million yen, or $208 million, far less than the $1.4 billion Nissan reported for the same period last year.

Along with the layoffs, Nissan is cutting production capacity by 20%. CEO Makoto Uchida will also forfeit 50% of his monthly compensation starting this month, along with other executives who are taking voluntary pay cuts.

The company also appointed Guillaume Cartier, who currently heads Nissan’s Africa, Middle East, India, Europe and Oceania operations, to a new position: chief performance officer, overseeing sales and profitability.

Nissan launched a voluntary severance program over the summer. At that time the representative said AutoNews reported that Nissan has no plans for layoffs.

As of March 31, Nissan employed 133,580 people. It was not yet clear how the job cuts would be distributed among the company’s employees around the world.

The company did not immediately respond to a request for comment.

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