In an interview with Reuters yesterday, new Navistar CEO Lewis Campbell said the company is continuing to explore cost-saving opportunities and has not ruled out closing factories.
“We are now looking at what are the range of industry volumes that could come to us over time and what is the right footprint? More than likely we’ll have to adjust our footprint. And we’re ready to do that,” Campbell told the news service.
Campbell also said Navistar is looking at its business units to see whether selling or closing any of them is an option. That would exclude the truck and engine operations, he said, adding that the company also does not want to sell its military business.
According to the article, Navistar is cutting about 800 people through buyouts and layoffs and slashed its engineering spending by 28%.
Navistar has already taken steps to lower its expenses by $150 million to $175 million, Campbell said.
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