Nissan Motor Co. plans to solicit early retirement applications from administrative staff in Japan from July, as part of the company's plan to cut around 20,000 jobs globally, local media reported Sunday.

The Japanese automaker has already notified employees of the early retirement packages, which will target those in sales and accounting, while employees working in the development and production sections will be excluded, Kyodo News reported, citing a source close to the matter.

The plan, covering workers aged 45 to 64, will be offered in July and August, but the number of applications to be accepted has not been revealed, the report said.

Grappling with poor sales, Japan's third-largest automaker by volume announced restructuring measures Tuesday as it reported a hefty net loss of 670.8 billion yen (about 4.54 billion U.S. dollars) for fiscal 2024.

Along with the reduction of its global workforce by around 15 percent by fiscal 2027, the Yokohama-based automaker plans to slash its vehicle plants worldwide from 17 to 10 in the same period.

Xinhua/RSS