Ford: 38,000 Workers Have Taken Buyouts
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DETROIT -- Ford Motor Co. said Wednesday that about 38,000 of its hourly production workers have accepted buyouts or early retirement offers so far this year.
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LONDON/GAYDON  - Ford Motor Co.  is selling British luxury car maker Aston Martin to a group fronted by former Benetton and BAR motor racing boss David Richards in a deal worth 479 million pounds ($925 million).
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Ford Motor Co.  on Wednesday said about 38,000 of its union workers have accepted its buyout offers, part of a broad restructuring effort at the second-largest U.S. automaker.
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Ford Motor Co.  said on Wednesday  it estimates that its accelerated restructuring plan, announced  in September, will cost $11.18 billion, with most of that going  to programs to lay off employees.
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With its recent decision to entertain bids for Volvo, Ford appears to be dismantling the collection of luxury auto companies that it once assembled with such confidence.
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Further job cuts, spending cuts and changes in FordÂs lineup of car and trucks are also expected.
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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.  heads into a round of contract talks with its major union as the automaker seeks sweeping changes worth billions of dollars that would transform it into a strong contender, according to people familiar with the upcoming negotiations.
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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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American Axle & Manufacturing Holdings Inc.  on Wednesday said it would offer buyouts or early retirement to 6,000 U.S. United Auto Workers members because of the struggles of North American automaker customers, sending shares up more than 5 percent.
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Even before Microsoft offered its buyout bid, Yahoo acknowledged plans to lay off about 1,000 workers. Now, those layoffs are under way, regardless of Microsoft's acquisition hopes, with pink slips being handed to the leaders of Brickhouse and Yahoo Personals, among others.
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The results matched the consensus estimate of 38 cents per share with health care and transportation among the businesses with a jump in orders.
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Ford sprang a surprise when it declared that Jaguar was moving out of Formula-1 and the team is up for sale or dismantling. That decision gave rise to the speculation that Ford might be considering moving out of World Rally Championship as well.
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TORONTO - Ford Motor Co. is reported to be on the verge of announcing a $1-billion investment at its plant in Oakville, Ont. The company has decided to build a flexible manufacturing plant at the site, the Toronto Star reported Friday.
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Jaguar will pull out of Formula One at the end of 2004, with parent company Ford&#39;s engine maker Cosworth also up for sale. Ford&#39;s bombshell announcement on Friday has huge
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Ford Motor Co. 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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General Motors Corp. offered German workers generous buyouts Thursday to pave the way for up to 12,000 job cuts in Europe, where the world&#39;s largest automaker is struggling to end years of losses amid fierce competition and weak demand.