Nissan plans big cuts to go small after first loss in 11 years

TOKYO (Reuters) - Nissan Motor Co outlined a new plan on Thursday to become a smaller, more efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years.Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen off its fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun..