Nissan has announced an additional 11,000 job cuts, bringing total reductions to 20,000 as it struggles with significant financial losses. The company reported a staggering 671 billion yen net loss for FY 2024 due to declining sales in the U.S. and China, as well as failed merger attempts. New CEO Ivan Espinosa emphasizes a shift towards profitability rather than volume, planning to reduce its production facilities from 17 to 10 plants by 2027 and aiming for 500 billion yen in cost savings. The situation reflects deeper issues stemming from previous management strategies under Carlos Ghosn.