Nissan said it would lay off thousands of workers as it cuts global production to cope with falling sales in China and the United States.
The Japanese car manufacturing giant said it would cut 9,000 jobs worldwide as part of a cost-cutting effort that would see its global production cut by a fifth.
Nissan did not immediately respond to a request from BBC News for more details on where the job cuts will take place.
The company employs more than 6,000 people at its manufacturing plant in Sunderland, in the north east of England.
The company also cut its operating profit forecast for 2024 by 70%. This is the second time this year the company has lowered its outlook.
“These recovery measures do not imply a decline of the company,” said Nissan Chief Executive Makoto Uchida.
“Nissan will restructure its operations to become leaner and more resilient.”
Nissan shares were trading down more than 6% Friday morning in Tokyo.
Growing competition in China has led to falling prices, leaving many foreign automakers struggling to compete with local companies like BYD.
In November last year, Nissan and its partners announced a £2 billion ($2.6 billion) plan to build three electric car models at its Sunderland factory.
The company said it would build electric Qashqai and Juke models at the plant alongside the next generation of the electric Leaf, which is already produced there.
