Ford to Slash 14,000 Jobs, Offer Buyouts
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DETROIT -- Ford Motor Co.ÃÂ ÃÂ Ford Motor Co. said Friday that it plans to cut 10,000 more salaried jobs, offer buyouts to all hourly workers and shut down two more plants as part of a dramatic restructuring plan designed to rein in expenses and restore the struggling automaker to profitability.
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Ford Motor Co. F.N on Friday said it   will slash $5 billion in costs and cut nearly 45,000 jobs,   about one-third of its work force, in a sweeping restructuring,   and warned that its North American unit won't make a profit for   another three years.
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The buyout offers would allow the auto giant to begin hiring new workers for significantly less pay.
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DEARBORN, Mich. -- Ford Motor Co.'s board is expected to review a plan to cut white-collar staffing, benefits and other costs by 30 percent as part of a broader restructuring, according to published report.
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DETROIT -- Ford's hourly work force is shrinking to half its current size, following the announcement yesterday that 38,000 hourly workers have agreed to accept early retirement or buyout packages this year.
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Ford Motor Co. F.N 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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The United Auto Workers union said on  Thursday Ford Motor Co. is offering 8 buyout packages to  its U.S. union-represented factory workers, including up to  $140,000 one-time payment.
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Ford Motor Co.  on Friday said it  would cut its annual costs by about $5 billion by the end of  2008 and reduce its salaried staff by about a third as part of  an accelerated restructuring.
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General Motors Corp. (GM.N: Quote, Profile, Research) and Ford Motor Co. (FN: Quote, Profile, Research) on said on Wednesday they will cut production more than expected
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Ford Motor Credit Co., the finance subsidiary of Ford Motor Co. , said on Friday a previously announced restructuring plan would result in charges of $290 million, including $200 million to fund job cuts.
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Ford Motor Co.  said on Thursday  that two of its top executives have decided to retire, a day  before the automaker is expected to announce a new sweeping  restructuring plan.
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Ford Motor Co. F.N will offer buyout   packages of up to $140,000 to all of the more than 75,000   workers at its U.S. plants, the United Auto Workers union said   on Thursday, a day before the automaker details a revised   turnaround plan in response to slumping sales.
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Ford Motor Co.  on Wednesday said a total of 38,000 employees -- almost half of the automaker's U.S. factory workforce -- had accepted buyout offers to leave the company.
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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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Ford Motor Co. will offer three  buyout programs to U.S. salaried workers in an effort to cut  10,000 white-collar jobs by end of first quarter 2007, a  spokeswoman said on Wednesday.
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Ford Motor Co.  said on Monday it plans to obtain financing totaling about $18 billion to address near-and medium-term negative operating-related cash flow, to fund its restructuring, and to provide added liquidity.
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Ford Motor Credit, the financial arm of   Ford Motor Co. F.N on Thursday said it would cut 2,000 jobs   -- almost a quarter of its staff in North America -- and close   branch offices in order to cut costs.