JAPANESE car maker Nissan reported today that it plans to slash 9,000 jobs after it suffered a massive loss for the latest fiscal quarter.

Chief executive Makoto Uchida said that he was taking a 50 per cent pay cut to take responsibility for the dismal results, while promising that a turnaround was coming.

Nissan Motor Corporation announced a global workforce reduction of 9,000 people, or about 6 per cent of its more than 133,000 employees, as well as a plan to slash global production capacity by 20 per cent.