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Ford aims for 30,000 job cuts 4 years sooner than planned
September 11, 2006
Ford Motor Co. plans to accelerate its scheduled 30,000 job cuts in North America by four years, four unidentified people familiar with the company’s strategy have told Bloomberg News.
Ford aims to complete the reductions by 2008 instead of 2012 as announced in January, according to the people, who asked not to be identified because details aren’t public. Ford may disclose the new timetable as early as this week, when its board meets for the first time since Alan Mulally succeeded Chairman William Clay Ford Jr. as chief executive officer on Sept. 5, the people told Bloomberg.
On Wednesday and Thursday, new Ford CEO Alan Mulally and the board will be faced with the option of cutting 30% of the North American workforce -- nearly 40,000 jobs -- by the end of this year, several pepple told the Detroit Free Press for a Sunday report. That's about 6,000 more jobs than the 34,000 announced earlier this year.
Also on the agenda: accelerating and possibly adding plant closures, retooling the product plan, consolidating the dealership body nationwide and offering buyouts to hourly workers at all of its facilities nationwide, among other actions.
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