Cutbacks as Titan posts third quarter loss

Quincy, Illinois — Titan International Inc. has embarked on a series of staff and cost reductions in response to a decline in its business performance over the three months to 30 Sept.

The company posted third-quarter losses from operations of $2.5 million on sales of $449.6 million – 9.6-percent lower than in the same period last year when it achieved an income of $17.1 million.

The cutbacks include a planned reduction of employee numbers In Russia from 2,300 to 1,000 this year in line with current demand,…

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