TOKYO (CNN) — Nissan, Japan’s third-largest automaker, announced a series of steps Monday to deal with the economic downturn, including slashing its workforce by 20,000.

The cost-cutting measures makes Nissan (NSANY) the latest among the country’s carmakers to take drastic action in the face of a worsening financial outlook.

The job reductions will bring down Nissan’s head count from 235,000 to 215,000. (Link)

That’s roughly 8% of their workforce. Not a huge percentage but significant nonetheless

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