Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

Related: Temu makes a huge dreaded change amid high China tariffs Another badly affected sector was automotive. Big names like Ford, which announced price hikes on its vehicles, were forced to undertake drastic measures to combat the stresses tariffs will place on their manufacturing process.

Ivan Espinosa is mapping a daring route. Nissan Motor’s new CEO, who replaced Makoto Uchida last month, is doubling his predecessor’s planned job cuts and plant closures. Hitting his sales target will be tough in the face of tariffs,

But despite the tough times ahead, Nissan CEO Ivan Espinosa has confirmed that an all-new Skyline is in the works. It was announced during the company’s financial report for FY24, so at least there was a sliver of good news during that press conference.

In a recent interview with French business news channel BFM Business, former Nissan CEO and international fugitive Carlos Ghosn described his former employer as a company in “dire straits.” He further stated that he “predicted Nissan ’s decline” and the “demise” of the alliance between it and French automaker Renault.

TOKYO — Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss for the fiscal year that just ended amid slipping vehicle sales in China and other nations.