Finbarr O'Neill, who took over as chief executive in September, says he has scrapped the risky financing deals. He also says he's significantly reduced sales to rental and other fleets, shifting the focus to the more-profitable retail business.
In an effort to cut costs and better align supply with demand, the company announced last month it will lay off 1,200 workers this fall at its only U.S. plant in Normal, trimming car production as part of a worldwide revival plan.
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