Thursday August 6, 2020

Ford’s losses spark return-to-profit purge

Ford Motor Company has announced a major restructuring after a $1.44 billion first-half loss.

16th September, 2006

Ford Motor Company has announced a major restructuring after a $1.44 billion first-half loss. It will shed an additional 10,000 salaried jobs in North America and has delayed its target date for returning to profit in the region by a year.

Ford will also finish cutting 30,000 North American factory jobs and shutting 14 plants by20 08 instead of 2012. Buyouts of as much as $140,000 will be offered to all hourly workers.

The company’s quarterly dividend will be suspended for the...

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