Ford Motor Credit to cut 2,000 jobs
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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   59 U.S. branch offices over the next year in order to cut   costs.
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Engine manufacturer Rolls-Royce Group plc is to cut up to 2,300 jobs in Britain, Europe and the United States in a bid to trim costs, the company said Friday.
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Ford Motor Co. expects lower earnings in 2005 because of a drop in profits at its financial services arm, which contributed heavily to 2004 results, but the nation's second-largest automaker predicts robust growth from its automotive businesses. Its shares rose nearly 2 percent.
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CHARLOTTE, NC Oct. 7, 2004 - Bank of America Corp. said Thursday that it plans to cut about 2.5 percent of its work force, eliminating about 4,500 jobs as part of a restructuring following its acquisition of FleetBoston Financial Corp.
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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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CHARLOTTE, NC -- Bank of America said Thursday it will cut about 4,500 jobs, or about 2.5 percent of its work force, beginning this month as a result of its merger with FleetBoston Financial Corp.
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AUBURN HILLS, Mich. -- Analysts say 10,000 hourly workers probably will lose their jobs as part of DaimlerChrysler's effort to cut costs at its Chrysler Group by more than $2 billion, or $1,000 for every car sold in the United States.
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Ford Motor Co.  plans to raise the amount of a borrowing plan to roughly $22 billion to $23 billion from an original $18 billion, as it increases the size of a revolving credit line and a convertible note sale.
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Rolls Royce is planning to slash more than two thousand jobs worldwide, including many in the UK
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General Motors Europe will chop 12,000 jobs over two years -- around a fifth of its workforce -- to lop 500 million euros ($673 million
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The world's largest car builder General Motors is to cut 12,000 European jobs, trimming $500m (Â£280m) from annual costs, it is reported.
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General Motors Corp.  and Ford Motor Co.  are expected to announce further cuts in vehicle production levels this week as they move to trim inventories of unsold cars and trucks following weak sales, analysts said.
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Ford Motor Co., struggling to overcome record losses this year, plans to borrow as much as $18 billion to pay for US job cuts and factory shutdowns and will back its loans with collateral for the first time.
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General Motors Corp. and Ford Motor Co. said yesterday they would cut production more than expected after weak US sales in November, a move that analysts said could hurt profits.
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Germany's leading bank, Deutsche Bank, is to tell its employees next week of plans to cut some 2,000 jobs to increase profitability, according to a report.
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Goldman Sachs Group Inc  and Credit Suisse Group  on Friday said they will cut about 2,000 job worldwide as a credit crisis puts a damper on fixed-income trading and corporate dealmaking.
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Ford Motor Co. announced Friday that it would eliminate 1,150 jobs in England to streamline its Jaguar Cars Ltd. unit, where weak sales have failed to offset spending on new products and other parts of the business.