Dana to Close Plants, Trim Workforce

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ehicle-parts supplier Dana Corp. said Thursday it will cut its work force by 5%, close two U.S. plants and sell parts of its business in order to trim costs, Bloomberg reported.

Dana, struggling with high raw materials and energy costs, also plans to reduce employee benefits and freeze wages.

The company said it will sell businesses that employ about 9,800 people worldwide and will focus on its drivetrain products and sealing and thermal products.