**Nissan Shares Plummet as Automaker Announces Job Cuts and Reduced Manufacturing Capacity**

Nissan Motor's stock plunged 6% during Tokyo trading on Friday, following the company's announcement of significant restructuring measures. The Japanese automaker revealed plans to eliminate 9,000 jobs and reduce its manufacturing capacity by 20%, amid dwindling sales in key markets such as China and the United States.

On Thursday, Nissan further alarmed investors by revising its full-year operating profit forecast downward by a staggering 70%. The restructuring efforts are expected to cut costs by 400 billion yen ($2.61 billion) by the end of the financial year in March. Industry analysts attribute Nissan's struggles in China to intense competition from local electric vehicle manufacturers like BYD, which are making significant inroads with cost-effective electric and hybrid models.

The challenges do not end for Nissan in China. In the United States, the company has also failed to keep up with the surging demand for hybrid vehicles. CEO Makoto Uchida admitted that Nissan had not anticipated the sudden rise in hybrid popularity in America, contributing to the lackluster reception of their revamped core models.

Nissan's announcement is part of an ongoing effort to revive the company's fortunes following a series of setbacks, including the 2018 removal of former Chairman Carlos Ghosn and the subsequent reduction of its partnership with Renault. While government officials, such as Japan's Minister of Economy, Trade and Industry Yoji Muto, have remained tight-lipped on the prospect of state support for Nissan, the market reaction signifies a lack of confidence in the automaker's recovery plans.

Seiji Sugiura, an analyst at Tokai Tokyo Intelligence Laboratory, criticized Nissan's management for their focus on selling new EVs and traditional models, rather than hybrids. Sugiura suggested that the company's mid-term plan, which includes the introduction of 30 new models over the next three years and aims to boost global sales by 1 million vehicles, might be flawed in its approach. "I think their understanding of the situation is completely wrong," he stated.

Nissan's future remains uncertain, as the automaker navigates through turbulent times while attempting to adapt to rapidly changing market dynamics and consumer preferences.