09-26-2006, 07:33 AM
Ford's Latest Better Idea
The Daily Auto Insider
Monday, September 25, 2006
September 2006
Ford has accelerated its "Way Forward" restructuring plan, according to a Dow Jones Newswires report.
Among Ford's latest moves:
10,000 additional white-collar job cuts, more plant closures, and new product initiatives.
Ford's new plan adds two North American plants to the closure list ââ¬â in addition to 14 plant closures and 30,000-plus job cuts announced in January ââ¬â and targets $5 billion in cost cuts by the end of 2008.
Ford will reduce its annual production capacity to 3.6 million vehicles by 2008, down 1.2 million vehicles from the beginning of 2006.
By 2010, the company will also close seven vehicle manufacturing sites.
A new "low-cost" manufacturing site in North America is in consideration.
Ford plans to launch five new products, including so-called crossover vehicles and "people movers," much like the Edge crossover SUV that goes on sale later this year and the Fairlane minivan replacement that arrives in 2008, the story said.
In a related article in The Detroit News, Alan Mulally, Ford's new president and CEO, said Ford has no "current plans" to sell its ailing Jaguar brand.
The Daily Auto Insider
Monday, September 25, 2006
September 2006
Ford has accelerated its "Way Forward" restructuring plan, according to a Dow Jones Newswires report.
Among Ford's latest moves:
10,000 additional white-collar job cuts, more plant closures, and new product initiatives.
Ford's new plan adds two North American plants to the closure list ââ¬â in addition to 14 plant closures and 30,000-plus job cuts announced in January ââ¬â and targets $5 billion in cost cuts by the end of 2008.
Ford will reduce its annual production capacity to 3.6 million vehicles by 2008, down 1.2 million vehicles from the beginning of 2006.
By 2010, the company will also close seven vehicle manufacturing sites.
A new "low-cost" manufacturing site in North America is in consideration.
Ford plans to launch five new products, including so-called crossover vehicles and "people movers," much like the Edge crossover SUV that goes on sale later this year and the Fairlane minivan replacement that arrives in 2008, the story said.
In a related article in The Detroit News, Alan Mulally, Ford's new president and CEO, said Ford has no "current plans" to sell its ailing Jaguar brand.