Chicago-based Navistar International may be moving its headquarters to a nearby suburb in an effort to cut costs.

According to the Chicago Tribune, the truck and engine manufacturer is considering transferring its headquarters from Chicago’s East Loop to west suburban Warrenville, Ill., as part of a campaign to cut costs after being hit by an industrywide downturn. More than 400 employees could be joining other relocating Navistar workers in an office building under construction in Cantera, a 650-acre, mixed-use development. The company is considering making a move next summer.
However, city officials say they've been told by Navistar executives that the company intends to stay in the city, and that the suburban site is too small to accommodate all of Navistar's personnel.
But a company spokesman told the paper that a final decision on a move to Cantera has not been made.
Last month, the company announced that it was cutting its white-collar workforce by 15 percent, or 1,100 jobs.