Ford Set to Cut 30,000 Jobs
The restructuring plan that Ford Motor Co. will announce next month as it moves to restore its North American operations to profitability will be more aggressive than many analysts had expected, the Detroit News reported Wednesday.
Citing people familiar with the plan, the newspaper said the automaker will cut up to 30,000 hourly jobs in North America within five years and close at least 10 assembly and component plants.
Ford Chairman and Chief Executive Bill Ford Jr. has said the plan would include “significant plant closings†but has declined to elaborate. The extent of the restructuring has been the subject of widespread speculation, Ford’s board is expected to review parts of the restructuring plan during a two-day meeting beginning Wednesday.
Source: MSNBC.
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