Japan's Nissan Motor is offering buyouts to workers and cutting back shifts at three U.S. factories, a company spokesperson said on Thursday, as the automaker pushes to slash $2.6 in costs globally.

Nissan Motor is slashing production at its U.S. plants and offering buyouts to factory workers there as part of the Japanese automaker’s urgent efforts to return to profitability.

SMYRNA, Tenn. (WZTV) — Nissan has confirmed that its plants in Smyrna, Canton, and Decherd will experience job cuts. The company stated it would initially seek volunteers for the layoffs, offering severance packages to those who opt-in.

Nissan Motor Co. is eliminating a work shift at two US vehicle assembly plants and trimming its hourly staff via buyouts, a downsizing to align its output with lower sales volumes as it mulls a possible sale to Honda Motor Co.

Nissan Motor (OTCPK:NSANY) announced production and shift cuts in the U.S. as part of its strategy to push back costs amid sluggish sales. The Yokohama-based automaker is offering buyouts to workers.

The industry that helped turn Japan into an economic juggernaut is undergoing its biggest change in years, with two of the country’s best-known carmakers looking to join forces.

Nissan announced Wednesday that it's cutting U.S. production lines and offering employees voluntary buyouts to avoid layoffs.

Nissan failed to mention exactly when the plants will return to two shifts. However, the Smyrna site will start to build a plug-in hybrid Rogue in 2027, and this will require a second shift. The Canton site will also go back to a two-shift schedule and handle the production of an EV, likely arriving in 2028.

Nissan plans to repair its flailing business without closing factories, according to people familiar with the matter, as it looks to streamline its finances before a capital tie-up with Honda.

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