Nissan plans to cut 87 jobs at its European office in Montigny, France, as part of CEO Ivan Espinosa’s global restructuring strategy to restore profitability. The company will reduce global output by a third, close seven plants, and cut 20,000 jobs. Most affected roles are in marketing and sales.

Of the 87 positions being eliminated, 64 were already filled at the time of the agreement. Nissan will create 34 new roles and offer internal redeployment to mitigate job losses. The company will implement the cuts in phases, starting with a voluntary separation program, with the possibility of compulsory redundancies in early February.

Employees moving internally may receive a €5,000 gross bonus, while departing employees will receive outplacement support and redeployment leave. Nissan cited the need to address current business challenges as the reason for the restructuring. The Montigny office oversees regions including Europe, Africa, and the Middle East.

Nissan recently reported an 8% decline in European retail sales and adjusted its full-year outlook. Despite the job cuts, the company will maintain the Montigny office and invest in employee development. Nissan also reported a net loss for the first half of the fiscal year and plans to sell its Yokohama headquarters as part of a non-core asset disposal strategy.

Read more at Yahoo Finance: Nissan to cut European office jobs under global restructuring plan