Nissan shares plunge over 10% after downbeat quarterly results, production-cut plans

Shares of Japanese automaker Nissan plunged by 10.12% following disappointing quarterly results and an announcement to reduce global production capacity by 20%. The company also revealed plans to cut staff by 9,000, leading to shares hitting a four-year intraday low of 368.5 yen on Friday, the weakest since September 2020.

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