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TRUCKMAKERS NEWS * USA
* Illinois - Navistar Earnings: Truck Maker to Cut Costs
Warrensville,ILL,USA -The Wall Street Journal, by Bob Tita & Saabira Chaudhuri -September 4, 2013: -- Losses continued for Navistar International Corp., as sales declines for commercial trucks during the company's fiscal third quarter outpaced efforts to reduce costs... The company reported a larger-than-expected quarterly loss, prompting a new round of expense cuts to save an additional $50 million to $60 million annually. Navistar intends to shed 500 salaried employees and long-term contractors by the end of October. At the same time, it is counting on recapturing lost market share in coming months as it completes its transition to an engine-exhaust-treatment system supplied by Cummins Inc... The latest staff reductions will trim 300 salaried employees, about 4% of the company's salaried workforce, and 200 contractors...
Labels: truckmakers news USA
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