Ford will cut costs in Europe
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In a bid to stop the bleeding in its European luxury brands, Ford Motor Co. announced a $450-million plan to close a Jaguar plant, eliminate hundreds of salaried and contractor positions and sell its Formula One team.
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General Motors is reviewing its European operations as it aims to trim costs in the loss-making division. The US car maker said production could be reduced but dismissed reports it had already decided to cut 3,000 jobs.
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Ford Motor Co . is set to choose a  frontrunner to buy European brands Jaguar and Land Rover around  the end of this week as it moves towards a sale early in 2008,  said a person close to the matter on Monday.
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General Motors will cut around 10,000  jobs in Europe in a drive to save some 500 million euros  ($613.4 million) a year and return its loss-making operations  there to profit, a company source said on Wednesday.
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General Motors Corp. said Thursday it will slash 12,000 jobs from its money-losing European operations -- nearly one in five of its jobs there -- by the end of 2006 in order to save $617 million per year.
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FORD, the American car giant, confirmed yesterday that it is to stop producing Jaguar cars at its Brownâs Lane plant in Coventry, with the loss of 1,150 jobs.
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Ford Motor Co.  will announce on  Wednesday a massive corporate restructuring that will lower  white-collar costs by 30 percent and include cutting jobs and  benefits, according to the online version of The Wall Street  Journal.
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General Motors Corp., the world&#39;s biggest carmaker, will cut as many as 12,000 jobs in Europe, almost a fifth of its workforce in the region, after $3 billion in losses in the past four years.
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European Union officials this week will aim to reduce corporate influence and make polluting more expensive.
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Ford Motor Credit, the financial arm of  Ford Motor Co.  said on Thursday it would cut 2,000 jobs  -- almost a quarter of its staff in North America -- and close  branch offices in order to cut costs.
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Ford Europe Chief Executive John Fleming  said on Thursday the European unit of the U.S. auto maker was  on track to post a profit in 2006 for the third consecutive  year.
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Ford Motor Co. F.N will present to   its board of directors on Wednesday a massive corporate   restructuring plan that will lower white-collar costs by 30   percent and include cutting jobs and benefits, according to the   online version of The Wall Street Journal.
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Ford Motor Co.  said on Tuesday it  was working with financial advisers on the best options for its  European luxury brands Jaguar and Land Rover.
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General Motors Europe announced yesterday that it will cut 12,000 jobs on the continent by the end of 2006 in a plan aimed at saving US$617 million per year.
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Ford Motor Co.  cut its dividend  in half on Thursday as well as the fees paid to board members  as the U.S. automaker struggles with its turnaround plan.
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DETROIT -- Ford took drastic steps yesterday to remold itself into a smaller, more competitive company, slashing thousands of jobs and shuttering two additional plants to cut costs and fend off a financial crisis.
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Ford Europe Chief Executive John Fleming   said on Thursday the European unit of the U.S. auto maker was   on track to post a profit in 2006 for the third consecutive   year.