Join Date: Feb 2001
Location: The Hills of North Georgia,USA
This is what Ford is going to do.....
DETROIT (Reuters) - Ford Motor Co. (F.N) said on Friday it would cut 35,000 jobs worldwide -- 22,000 of them in North America -- and close three assembly plants in North America.
Ford Chief Operating Officer Nick Scheele said the world's second-largest automaker would close assembly plants in Edison, New Jersey; Hazelwood, Missouri; and Oakville, Ontario. The Canadian and New Jersey plants build pickups, while the Missouri plant builds the Ford Explorer sport utility vehicle.
Scheele also said Ford would close two parts plants in Cleveland, Ohio, and Dearborn, Michigan. In addition, 11 plants will undergo major restructuring, including shift cuts, with production cuts at nine additional plants.
The cuts come as part of an overhaul of the company aimed at improving profits by $9 billion by the middle of the decade. Ford said it would take an after-tax charge of about $4.1 billion in the fourth quarter of 2001 in the restructuring drive.
It said it would cut North American production capacity by 16 percent, to 4.8 million vehicles from 5.7 million vehicles, and cut four vehicles -- the Ford Escort, the Mercury Cougar, the Mercury Villager and the Lincoln Continental -- from its lineup.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....