Nissan Motor Co. on Feb. 9 lowered its group earnings forecasts for the year to March to an operating loss of ¥180 billion due to sliding car sales and the yen's appreciation against other key currencies.

The projected loss would be the automaker's first red ink on an operating level since fiscal 1994 and the first since President Carlos Ghosn became chief operating officer in 1999, when Nissan formed an alliance with France's Renault SA to weather its financial difficulties.

"The global automotive industry is in turmoil and Nissan is not an exception," Ghosn said in Tokyo.

To combat the anticipated loss, Nissan said it will cut its worldwide workforce of about 235,000 by 8.5 percent to 215,000 through March 2010.

Of the job cuts, 12,000 will be in Japan, including group companies, and the rest will be overseas, it said. The company did not give a further regional breakdown.