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Nissan is currently preparing a financial report that is alleged to show its first-quarter profit falling by around 90 percent, necessitating over 10,000 job cuts. The company told the world to brace for a bad year in May, following an abysmal earnings report for the 12-month period ending on March 31st, 2019. At the time, CEO Hiroto Saikawa said the automaker had “hit rock bottom.” But Nissan is still falling, if reports are to be believed.

The Japanese company released a statement that vaguely refutes the claims against on Wednesday while also validating them. However, numerous unnamed insiders have suggested the reports are accurate and several named staffers acknowledged that the automotive firm was facing serious problems.