Delphi Posts $534 Million July Loss

Truck and auto parts manufacturer Delphi Corp. said it had a net loss of $534 million in July, Bloomberg News reported Thursday.

The loss, which the company disclosed in a regulatory filing, included spending on severance pay as part of layoofs under its plan to re-emerge from bankruptcy. During the month, the company paid out $184 million in buyouts and incentives to trim its workforce.

The Troy, Mich., manufacturer filed for Chapter 11 bankruptcy protection in 2005 and hopes to emerge by mid-2007, Bloomberg News said.

The company said that in July it had sales of $894 million and $933 million in cash and equivalents at the end of the month, an increase of $83 million from June.