Ford to slash 10000 more jobs
Ford Motor Co. said Friday that it plans to cut 10,000 more salaried jobs, offer buyouts to all of its U.S. hourly workers and shut down two more plants as it expands its restructuring plan designed to rein in expenses and restore the struggling automaker to profitability.
The company said in a news release that it would shutter a stamping plant in Maumee, Ohio, in 2008 and an engine plant in Essex, Ontario, in 2007. That is in addition to previous plans for 14 plant closures.
In addition, Ford said an assembly plant in Norfolk, Va., will close in 2007, a year earlier than previously announced and will see a shift reduction in January. Also, an assembly plant in St. Paul, Minn., which is scheduled to close in 2008, will have a shift reduction in 2007.
Ford said it would complete its cuts of 25,000 to 30,000 hourly jobs by the end of the 2008, four years ahead of its previous target.
The company said in a news release that it would shutter a stamping plant in Maumee, Ohio, in 2008 and an engine plant in Essex, Ontario, in 2007. That is in addition to previous plans for 14 plant closures.
In addition, Ford said an assembly plant in Norfolk, Va., will close in 2007, a year earlier than previously announced and will see a shift reduction in January. Also, an assembly plant in St. Paul, Minn., which is scheduled to close in 2008, will have a shift reduction in 2007.
Ford said it would complete its cuts of 25,000 to 30,000 hourly jobs by the end of the 2008, four years ahead of its previous target.
posted by xlmaster at 6:12 AM
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