Ford announces sharp cuts in production
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Ford Motor Co. on Friday announced sharp cuts in its North American production that would force it to partially shut down plants in the U.S. and Canada in the fourth quarter.
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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 plans to cut one of the two Explorer production shifts at its St. Louis plant in January as sales of the SUV, also made in Louisville, wane.
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The Ford-owned carmaker is to cut production at its three UK plants by 11% because of poor sales in the US.
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Ford is widely expected to announce another round of job cuts as it finalises a restructuring drive.
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British carmaker Jaguar will cut  production by some 15,000 units over the rest of 2004 amid  slack demand, a Jaguar spokesman said on Friday.
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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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LONDON (CBS.MW) - Ford Motor Co. on Friday is expected to announce its plans for its main Jaguar factory in the UK, which could include closing the factory.
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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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British carmaker Jaguar will cut production by some 15,000 units over the rest of 2004 amid slack demand, a Jaguar spokesman said on Friday.
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Ford Motor Co. saw its sales continue to decline in November, despite the introduction of new vehicles. The automaker said it would reduce production for the first quarter.
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General Motors Corp. and Ford Motor Co. reported disappointing U.S. sales Wednesday, prompting the nation's two largest automakers to cut planned vehicle production in the fourth quarter, which could hurt profits.
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Jaguar said yesterday it would cut production by about 15,000 cars, or 11%, for the rest of the year in response to weak sales in its key market of the US.
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Ford Motor Co.  said on Wednesday it estimates that its restructuring plan, dubbed "Way Forward," will cost the automaker a total of $11.18 billion, with most of that going to programs to lay off employees.
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Shares of Ford Motor Co.  fell  nearly 5 percent on Thursday in reaction to a news report that  its automotive unit could lose up to $9 billion this year,  information that came on the final day of a board meeting to  review the carmaker's stepped-up cost-cutting plan.
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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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General Motors Corp. GM.N and Ford  Motor Co. F.N 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.