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.

The company is not planning for involuntary layoffs and is part of its initiative to cut down global costs by $2.6bn.

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.

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.

Nissan will operate a single shift on one production line at each of its two U.S. facilities, located in Smyrna and Canton, Mississippi, according to Bloomberg. It expects to go back to a two-shift schedule when it introduces new vehicle models in 2027 and 2028. The production cuts impact the Rogue in Smyrna and the Altima in Canton.

Nissan Motor Corporation is a Japanese automaker founded in 1933 and the parent automaker of Infiniti and formerly Datsun. Nissan produces a wide variety of mass-market ve