This overall downturn affected Holden's profits; the company recorded a combined gain of A$842.9 million from 2002 to 2004, and a combined loss of A$290 million from 2005 to 2006. Factors contributing to the loss included the development of an all-new model, the strong Australian dollar and the cost of reducing the workforce at the Elizabeth plant, including the loss of 1,400 jobs after the closure of the third-shift assembly line in 2005, after two years in operation. Holden fared better in 2007, posting an A$6 million loss. This was followed by an A$70.2 million loss in the 2008, an A$210.6 million loss in 2009, and a profit of A$112 million in 2010. On 18 May 2005, "Holden Ltd" became "GM Holden Ltd", coinciding with the resettling to the new Holden headquarters on 191 Salmon Street, Port Melbourne, Victoria.