Navistar International Corp has said that it is expecting about 200 f its employees to opt for voluntary separation scheme this quarter.

About 500 people working with the firm have left in the previous quarter through the voluntary arrangement. Navistar International, which produces truck and engines, is also looking to sell its non-core businesses after it reported weak third quarter profits. The company earned a profit of $84 million during the quarter till July 31, which is much below $1.4 billion reported in the same period of the previous year.

The revenues of the Lisle-based firm fell 6 percent to $3.3 billion during the quarter. It is expecting to report a loss of $300 million for the fiscal year ending in October as against a profit of $1.8-billion that included tax benefits in the previous fiscal year. The revenues of the firm is expected to fall to 9 per cent to $12.7 billion.

Interim CEO Lewis Campbell said in a statement, "Clearly we are not pleased with these results. I believe we can accelerate the pace of progress to deliver significant improvements during the next 12 to 18 months."

The shares of the company rose 17.4 percent and closed at $23.97.