Monday, January 23, 2006
The New Republican Society for the Owners
The No. 2 U.S. automaker in the world is hoping to reverse billion-dollar losses by closing some plants in North America. Ford's drastic restructuring plan will entail cutting the American workforce by 25,000, closing 14 major plants in North America and thinning executive ranks. The job cuts will amount to 20 percent of Ford's North American workforce. "It's going to be painful for some people," Ford Chairman and CEO Bill Ford said this month. Ford Motor Company has been hurt by falling sales of its profitable sport utility vehicles, growing health care and materials costs and labor contracts.
from airamerica news