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

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 billion in costs globally.

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.

Nissan Motor Co. 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 Motor Co.

Nissan is reducing its production capacity and workforce in Tennessee and Mississippi plants. Here's what to know.