Ford Motor Company announced today that it is reducing its salaried work force by, “a third, the equivalent of about 14,000 positions.” And it will offer buyout packages to all Ford and Automotive Components Holdings (ACH) hourly employees:
Ford Motor Company—Ford Motor Company [NYSE: F] today announced plans to further reduce its capacity and work force, and ramp up new product introductions as it accelerates its North America “Way Forward” turnaround plan.
Ford will cut its North American salaried-related work force by about a third and offer buyout packages to all Ford and Automotive Components Holdings (ACH) hourly employees in the U.S. The reductions will contribute significantly to reducing ongoing annual operating costs by about $5 billion. In addition, Ford will renew 70 percent of its North American product lineup by volume by the end of 2008.
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