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Meanwhile BP, up 0.4p at 382.55p, is also expected to announce cost cuts includine North Sea oil job losses.
A Prudential Securities analyst, John Tumazos, expects the company to announce cost reductions to offset soft demand, lower-than-anticipated selling prices and $100 million in pension expenses.
But in a struggling market that has seen the hedge fund manager announce cost savings of $100m this July, Man said in a statement that it has decided to "concentrate our arts sponsorship on the world-leading Man Booker prize, where our support is about to go into its 12th year".
In all, Ford is expected to announce cost reductions in the neighborhood of $5.5 billion to $6 billion, predicts Morgan Stanley.
Credit Suisse will likely announce cost savings measures including a cut of 1,500-2,000 jobs, a Swiss paper reported on Tuesday, without naming any sources.
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According to Mr Marenzi, banks that announce cost-cutting programmes are more likely to see their expense ratios worsen than those that do not.
The company also said that it expected to announce cost-cutting moves in the fourth quarter as part of a strategy to reduce expenses worldwide.
The Walters Art Museum in Baltimore has become the latest art institution to announce cost-reducing measures that include job cuts.
On Sunday, Prime Minister George Papandreou is expected to announce cost-cutting measures totaling 24 billion euros (about $32 billion) that will include freezing public-sector salaries, raising taxes and slashing pensions.
[C6.] An Overhaul Planned at First Boston Brady W. Dougan is expected to announce cost-cutting measures at Credit Suisse First Boston, including layoffs, and a revamping of its investment arm.
These leaders announce cost-cutting initiatives -- and then take the executive team and their spouses on a strategic planning retreat to an exotic locale for five days.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com