Nissan Motor (OTC:NSANY) announced on Tuesday that it will slash 11,000 additional jobs and significantly reduce production as part of a sweeping cost-cutting strategy aimed at reviving the struggling Japanese

Nissan, Japan’s third-largest automaker, just announced that they’ll be cutting even more jobs. Nearly all of them plan to shrink their manufacturing footprint as part of overall companywide cost-saving measures.

Nissan’s recovery plan also aims to cut operating costs by $3.4 billion by aligning production with global demand and strengthening strategic alliances, such as its partnerships with Renault in Europe and Dongfeng in China.