UPDATE 2-Tenneco posts first-quarter loss

Newswire

* Q1 loss $1.05 per share vs 13 cents profit yr ago * Q1 revenue down 38 percent * Working to lower salary costs by at least 10 pct (Adds salary cut details) NEW YORK, April 30 (Reuters) - Auto parts maker Tenneco Inc posted a first-quarter loss on Thursday as vehicle production plunged amid a deep recession. The company also said it has made moves to lower its salary costs for salaried employees by at least 10 percent in order to counter low production volumes. The company posted ...

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