- 33% cut in salaried workers, approximately 14,000 employees (includes 4,000 employees terminated in first quarter of 2006)
- Buyout offer on contract of all remaining UAW United States hourly workers
- Closing or selling all Automotive Component Holdings by end of 2008
- Full-year profitability in North America before 2009
- Suspension of dividend on common and Class B stock beginning in fourth quarter
Friday, September 15, 2006
FORD ANNOUNCES MORE CUTS
Ford Motor Company announced more cost cutting moves that will be implemented through 2008 to save the company approximately $5 billion. The company also updated future financial projections. Some highlights:
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