Japanese automotive giant Nissan is planning to lay off 9,000 people globally. The company also aims to reduce its global production capacity by 20%. Nissan, the Japan-based car manufacturer, announced its plan to lay off 9,000 people globally and reduce its global production capacity by 20%. Nissan stated that it would restructure its operations to become more resilient. The company announced its goal to reduce fixed costs by 300 billion yen ($2 billion) and variable costs by 100 billion yen ($650 million) to achieve this. The statement included a commitment to reduce global production capacity by 20% and cut the global workforce by 9,000 people. Nissan CEO Makoto Uchida stated, “These transformation measures do not mean that the company is shrinking. As Nissan restructures its operations to become leaner and more resilient, it will also reshape management to respond quickly and flexibly to changes in the business environment.” The Japanese automaker also lowered its profit forecast for the second time this year. Nissan now expects its profit for the current fiscal year to decrease from the previous 500 billion yen ($3.2 billion) to 150 billion yen ($976 million). Global sales for Nissan, Japan’s third-largest car manufacturer, dropped by 3.8% to 1.59 million units in the first half of the fiscal year.