TROY, Mich. (Oct. 16)—Delphi Corp. reported a net loss of $353 million for the third quarter on sales of $6.6 billion, following after-tax restructuring charges of $356 million related to employee and product line costs. With United Autoworkers of America negotiations recently concluded, Delphi said it has taken actions to downsize its U.S. work force by up to 5,000 employees, primarily through retirements and flowback to its former parent company, General Motors Corp., to reduce its U.S. salaried work force by 500 and cut its international employee base by about 3,000. The world's largest automotive supplier said it plans to further reduce its work force and incur related charges of about $159 million after tax in future earnings periods, putting its total costs for work force attrition at $515 million.
Delphi reports loss in quarter after initial charges to cut 8,500 jobs
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