Nissan faces severe difficulties, CEO Makoto Uchida faces huge pressure

Nissan reported its dire financial situation to management in a recent online meeting, mainly due to weak sales in North America and China and poor profitability. In response to this situation, Uchida announced a series of cuts, including laying off 9,000 employees, cutting global production capacity by 20%, and cutting costs by $2.6 billion. In addition, he also promised to give up half of his salary.