DETROIT (AP) -- Top executives of American Axle & Manufacturing Holdings Inc. reportedly will take 10 percent pay cuts as part of the auto-parts maker's restructuring plan.
The Detroit Free Press reported the cuts Thursday and says the move reduces the base pay for American Axle chief Dick Dauch to $1.48 million. The paper says 16 others also will take cuts.
Messages seeking comment were left for company spokeswoman Renee Rogers after business hours Thursday.
On Jan. 30, American Axle reported a $112.1 million fourth-quarter loss, as steep cuts in truck and sport utility production sent its sales tumbling 33 percent from a year earlier to $503 million.
The Detroit-based company cut about 3,000 jobs last year and closed several U.S. plants.