Nissan Motor will cut or transfer about 1,000 jobs in Thailand as it shrinks production in Southeast Asia, part of its recently announced global workforce reduction plan, two sources familiar with the matter told Reuters on Friday.

Nissan Motors is scaling down operations in Thailand as it grapples with declining market share and increased competition.

TOKYO -- Nissan Motor plans to restructure its business in Thailand, its major base of operations in Southeast Asia, next year, Nikkei has learned. The Japanese automaker will cut or relocate roughly 1,000 workers in the country as a part of its program to eliminate around 9,000 jobs worldwide.

Employment in Thailand’s automotive and auto parts industries as well as car financing services is declining as domestic car sales have been sluggish for months, with the latest job cuts by Nissan Motor adding to the misery.