The Japanese carmaker made the announcement as it said it expected to make a loss of 265bn yen ($2.9bn; £2bn) for its current financial year.
Nissan chief executive Carlos Ghosn said the the firm's "worst assumptions on the state of the global economy have been met or exceeded".
"The global auto industry is in turmoil. Nissan is no exception."
OneIndia News (With inputs from Agencies)