With the Nissan-Honda merger officially dead, Nissan is now moving forward with its own restructuring plan.That means deep job cuts, plant closures, and a more aggressive approach to development cycles as the company attempts to regain stability.

Nissan and Honda ended merger talks to forge a $60 billion car company on Thursday, pitching Nissan deeper into uncertainty and highlighting the pressure on legacy automakers from Chinese rivals upending the industry.

Nissan plans to cut thousands of jobs and slash production in a turnaround plan that becomes more important after calling off its Honda tie-up.