down and James M. Moran, Navistar senior vice president, and treasurer, would act as interim CFO until a successor could be found. In late June 2013, former General Motors executive Walter Borst was named Executive VP and CFO. In September 2013, Navistar announced it would cut 500 more jobs amid a larger than expected third-quarter loss. Navistar reported a slower than expected return to profitability due to large market share losses, declining sales, and weak market conditions. In May 2014, a third round of lay-offs in as many years occurred at the corporate headquarters as part of ongoing cost-cutting measures. On July 31, 2015, Navistar ceased operations and laid off the remaining 15 employees at the Truck Development and Technology Center (TDTC) in Fort Wayne, Indiana. In November 2015 and December 2015, several hundred Navistar employees voluntarily left the Corporate HQ office in Lisle, IL, as part of another Voluntary Separation Package (VSP). Cost-cutting and divestitures As part of the turnaround plan, Navistar executives cut costs aggressively. They cut SG&A costs by 16% in 2013 and cut product development spending by 24%. Interim CEO Lewis Campbell's priorities included a focus on quality, reducing the company's cost structure and paring back its product line. Navistar also sold several businesses that it deemed were not providing enough of a Return On Invested Capital (ROIC). Among them were their Monaco Coach Corporation Recreational Vehicle (RV) business as well as Workhorse Chassis. They also exited their joint venture with Mahindra and sold off their E-Z Pack unit, which made bodies for garbage trucks, as well as its Continental Mixer unit, which made concrete mixers, for prices the company characterized as "not material." In January 2014, Forbes reported several key challenges facing Navistar, which include declining military sales, a pension plan underfunded by $2.7 billion, two self-disclosed weaknesses in accounting practices and a new collective bargaining agreement for the company's 6,000 full and part-time workers who are represented by labor unions. In February 2014, Navistar announced it would move some engine production operations from Huntsville, Alabama, to Melrose Park, Illinois by summer 2014. The move eliminated 280 jobs in Alabama and saved an estimated $22 million. Navistar said it would keep two other diesel engine plants operating in Huntsville. In September 2014, Navistar reported its best quarter in years. It announced a third-quarter net loss of $2 million, or $0.02 per diluted share, compared to