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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