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Navistar jumps on report it’s considering job cuts

Shares of Illinois-based Navistar International have fallen 35 percent this year. It has about 19,000 employees.

Bloomberg News

Shares of Illinois-based Navistar International have fallen 35 percent this year. It has about 19,000 employees.

Crain’s Chicago Business reported that Navistar International Corp., which makes International trucks, has told employees it is considering options including job cuts. It told employees this month that voluntary departures and involuntary job cuts are among the possibilities as it cuts expenses, Crain’s said, citing spokeswoman Karen Denning. It offered a voluntary separation for salaried full-time employees, Crain’s said. It has 6,300 eligible US employees and doesn’t have to accept everyone who applies, Denning said. Also, shares slid on Aug. 2 after Navistar disclosed an SEC inquiry. The company, which has been developing an engine to meet emission standards after its earlier technology failed to comply, last week withdrew its yearly forecast until the release of its third-quarter earnings.