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Dana To Cut 2,500 Jobs

Auto parts company will eliminate an additional 2,500 jobs by the end of the year, on top of 500 salaried job cuts announced last week.

TOLEDO, Ohio (AP) -- Dana Holding Corp. says it will eliminate an additional 2,500 jobs by the end of the year, on top of 500 salaried job cuts the Toledo auto parts company announced last week.

In a statement, Executive Chairman John Devine said Thursday that the market for Dana's products is much different than it was just six months ago. Its customers in the ailing U.S. auto industry have been slashing production.

The company says the reductions will be made in its North American work force amid modest increases in hiring in markets where its business is doing better.

The word on job cuts was included in Dana's second-quarter results, showing its loss widened to $140 million in the three-month period that ended June 30, compared to $133 million a year ago.

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