Ford Credit says restructuring to cost $290 mln
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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. F.N, the No. 2 U.S.   automaker, on Friday said it will cut annual costs by about $5   billion by the end of 2008 and reduce salaried staff by   one-third, or 14,000 jobs, accelerating a restructuring plan.
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Ford Motor Co.  said on Monday it plans to raise $18 billion in debt financing to fund its restructuring, the latest sign the automaker is struggling to turn around its money-losing North American operations.
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Ford said it was working with financial advisers to sort out the future of the two British brands.
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The Ford Motor Company raised its third-quarter earnings forecast and announced a restructuring plan for its struggling Jaguar division.
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Fordâs decision comes after the companyâs board met last week, according to people with knowledge of the situation.
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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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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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Ford Motor Co.  is offering a &#36;500 cash rebate, in addition to other hefty discounts, to millions of full-time college students and recent graduates seeking to buy or lease a Ford or Lincoln-Mercury vehicle, the company said on Tuesday.
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Ford Motor Credit, the financial arm of   Ford Motor Co. F.N 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 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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A restructuring plan is designed to reduce the cost of producing each vehicle and more closely align Chrysler with its parent company.
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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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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 said its estimated $11.18 billion accelerated overhaul plan would go toward programs to lay off employees.
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Ford Motor Co. F.N is offering a $500  cash rebate, in addition to other hefty discounts, to millions  of full-time college students and recent graduates seeking to  buy or lease a Ford or Lincoln-Mercury vehicle, the company  said on Tuesday.
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Ford Motor Co.  on Friday said it has entered a credit agreement including a $7 billion term loan facility and a five-year $11.485 billion revolving credit facility.