YOKOHAMA, Japan (Reuters) -Nissan Motor unveiled sweeping new cost cuts on Tuesday, saying it would eliminate 11,000 more jobs and slim down production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

Nissan (OTC: NSANY ), which held off on releasing financial earnings estimates for the current year through March 2026, said it booked a 69.8 billion yen ($472.13 million) operating profit for the fiscal year just ended. In the last financial year it was badly damaged by weakening sales in the U.S. and China, saw merger talks with Honda (NYSE: HMC ) collapse and replaced its chief executive.

New CEO Ivan Espinosa now faces the difficult job of turning around an automaker that has seen its once-mighty brand value eroded. The automaker would look to focus on profitability and rely less on volume, he told a press conference.

The new job cuts will bring Nissan’s total workforce reduction to around 20,000 jobs, after it previously announced plans to cut 9,000 positions.

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