Home Page About Us Contribute

















At least 14,000 Jobs to Be Cut in Ford Restructuring

American Government Special Collections Reference Desk

Topics:  Ford Motor Company

At least 14,000 Jobs to Be Cut in Ford Restructuring

VOA News
September 15, 2006

Video Version  4,024KB (Large)  RealPlayer
Video Version  865KB (Small)  RealPlayer

The Ford Motor Company has announced a major restructuring plan that calls for plant closings, worker buyouts and the elimination of an additional 10,000 jobs.

Ford announced the plan Friday. It also calls for suspending payment of the fourth quarter stock dividend. The struggling automaker said it hopes to cut some $5 billion in costs.

The job cuts - combined with 4,000 jobs eliminated earlier this year - represent about one-third of Ford's salaried employees.

The company reached an agreement on the buyout plan with the United Auto Workers Union Thursday. That plan involves about 75,000 union represented hourly workers.

Ford lost $1.4 billion in the first half of this year. Earlier this month, it hired former Boeing executive Alan Mulally to help turn the company around.

The struggling company announced last month that a loss of market share was causing it to cut production by 21 percent.

Some information for this report was provided by AFP, AP and Reuters.



Connect with The Crittenden Automotive Library

The Crittenden Automotive Library at Google+ The Crittenden Automotive Library on Facebook The Crittenden Automotive Library on Instagram The Crittenden Automotive Library at The Internet Archive The Crittenden Automotive Library on Pinterest The Crittenden Automotive Library on Twitter The Crittenden Automotive Library on Tumblr  
 
 


The Crittenden Automotive Library

Home Page    About Us    Contribute




By accessing the The Crittenden Automotive Library/CarsAndRacingStuff.com, you signify your agreement with the terms and conditions on our Legal Information:  Disclaimers & Privacy Policy page.

To notify The Crittenden Automotive Library of errors, suggest topics, contribute information, make a comment on a page or to ask a question e-mail us.