Nissan Motor Co. shares extended their losses Monday after moves to cut thousands of jobs and slash production capacity cast doubt on Chief Executive Officer Makoto Uchida’s plans to turn around the carmaker.

The Japanese automaker is carving deep cuts in its global operations as it struggles with a steep drop in sales.

The Japanese carmaker is embarking on a turnaround plan that includes cutting global production capacity by a fifth.

Things are not rosy at Nissan, with the automaker hoping job cuts and asset sales will bring the company back to profit.

Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs.