Nissan is set to cut approximately 20,000 jobs globally and shut down seven factories as the automaker grapples with a net loss of over $4.5 billion. This drastic move comes as part of a broader restructuring plan initiated under new CEO Espinosa, aimed at reducing costs significantly amid declining sales in key markets like China and the U.S. The company has also decided to pause new car projects and has stated that further job cuts may occur in the future. Workers are concerned about the implications for domestic plants, including those in Tennessee and Mississippi, as Nissan navigates through one of the toughest periods in its history.