Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss for the fiscal year that just ended amid slipping vehicle sales in China and other nations.

The carmaker’s biggest loss in a quarter of a century has prompted drastic action, including the closure of seven plants.

Japanese automaker Nissan said it will shutter 7 plants and cut thousands of additional jobs in a second round of job cuts after millions of dollars in profit losses last year.