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Nissan’s CEO is forfeiting 50% of his monthly compensation as the company works to turnaround its performance.

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Transcript
00:00Japanese automaker Nissan announced 9,000 job cuts as it slashed its annual sales forecast.
00:05The company reported a 93% plunge in net profits in the first half of the year, as CEO Makoto
00:10Uchida told reporters that weak sales in the North American market were a factor.
00:15But Nissan and its domestic rivals are also struggling in China as electric vehicle firms
00:19are quickly growing.
00:20The company stated it's facing a severe situation and taking urgent measures to turn
00:24around its performance.
00:25This means that Nissan will cut its global production capacity by 20% and reduce its
00:30global workforce.
00:31The company also said that Uchida will voluntarily forfeit 50% of his monthly compensation and
00:36other executive committee members will take a pay reduction accordingly.

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