Nissan’s recovery plan also aims to cut operating costs by $3.4 billion by aligning production with global demand and strengthening strategic alliances, such as its partnerships with Renault in Europe and Dongfeng in China.

Nissan is slashing about 15% of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss Tuesday for the fiscal year that just ended amid slipping vehicle sales in ...