Nissan is reporting a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned.

The Japanese automaker is carving deep cuts in its global operations as it struggles with a steep drop in sales.

TOKYO — Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.S.