Like its Japanese rivals, Nissan is struggling with a severe global downturn that has slashed demand for vehicles, and a surge in the yen that has reduced the value of export earnings.

But unlike its Japanese rivals, Nissan outlined detailed cost-reduction measures aimed at returning the company to profit.

It plans to cut labor costs in high-wage countries by 20 percent, establish work-sharing schemes, and lower its global headcount by 20,000 jobs to 215,000 over the next year. Most of the jobs cut will be in Japan.

'If the situation continues to deteriorate, we will have no choice but to amplify this option,' Ghosn said, adding that Nissan would update its plans by March 31, the end of the Japanese fiscal year.

The cuts include more than 1,200 jobs eliminated last year through buyouts and attrition at Nissan's Tennessee factories. More recently, Nissan said it expected to eliminate around 110 jobs in North America, including 10 in Metro Detroit, as part of a reorganization of its U.S. sales, marketing and design operations. 'We've had a substantial number of positions that have transitioned out of the company already,' said Fred Standish, a spokesman for Nissan North America.

Nissan also will reduce the number of new vehicle introductions to 48 over the next three years from 60 scheduled.

But it will not slow down its electric car program or its plans to develop new entry-level cars.

'Affordable, fuel-efficient cars are the right products for a time of global economic crisis, and we are moving forward rapidly with our plans to produce them,' Ghosn said.

After acquiring a controlling stake in Nissan in 1999, Renault dispatched Ghosn to turn around the loss-making Japanese company. He returned it to profit in 2000, the year he was made CEO, and it has remained profitable until now.

Nissan lost 83.2 billion yen ($810 million) in the third quarter, compared with year-earlier earnings of 132.2 billion yen ($1.28 billion).