Dana’s chief executive Patrick Allman-Ward said on Tuesday that the company’s head office workforce will be cut by 40% and general and administrative costs by half between 2015 and early 2016, according to reports.

Ward added that Dana will continue to invest in Egypt, Reuters reported.

"We've gone through an exercise once again of looking at our head office overheads, and we've taken action to cut those costs by 50%.

“We