The change also comes after the firm reported a $164 million third-quarter loss and cut 3,400 jobs.

Last year, the company posted third-quarter losses of more than $800 million.

Last year's third-quarter loss was $3.24 billion, or 95 cents a share.

On Friday it announced a huge third-quarter loss of $648.7 million.

American reported a third-quarter loss this week of $16.3 million, the company's largest in years.

Just a few weeks earlier, it took a $350 million charge for third-quarter losses in Arizona.

Last month Mcorp reported a third-quarter loss of $73.7 million.

The corporation said it would report a third-quarter loss of about $125 million.

Ford Motor reported a third-quarter net loss of $692 million.

Financial analysts said the overhaul could lead to a third-quarter loss.