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Old 11-19-2005, 07:01   #1 (permalink)
Grover C. McCoury III
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Posts: n/a
Ford to cut 4,000 jobs in North America

Sat Nov 19, 2005

(Reuters) Ford Motor Co., facing a deepening financial crisis, said on
Friday it plans to eliminate 4,000 salaried jobs, or 10 percent of its North
American white-collar work force, as part of a larger restructuring plan.

A majority of the job cuts -- announced to employees in an e-mail
distributed by Mark Fields, president of Ford's Americas business -- will be
made in the first quarter of 2006, spokesman Oscar Suris said.

The cuts will come through attrition, layoffs and the elimination of some
agency and contract positions, Suris said.

They will be in addition to the 2,750 job losses already announced by the
automaker this year,

Ford lost $284 million in the third quarter and its automotive division is
in the red. Its North American vehicle operations have lost more than $1.4
billion before taxes so far this year.

The company's shares have dropped more than 40 percent since the end of
2004. They hit $7.57 per share on Thursday, the lowest in more than two
years, before rebounding to $8.41 per share on Friday.

Ford Chairman and Chief Executive Bill Ford Jr. said last month that the
automaker will announce its long-awaited restructuring plan -- dubbed "Way
Forward" -- in January.

He also warned that the plan would include "significant plant closings" to
help slash costs in North America.

Fields and his team are expected to present Bill Ford with the restructuring
plan in December.

Ford, like cross-town rival General Motors Corp., has seen its margins
squeezed by intense competition in the U.S. market and by a dramatic
slowdown in sales of cash cows such as mid-size and large SUVs due to high
gasoline prices.

The two companies are also facing higher costs and a cut in their credit
ratings to high-yield, or "junk," status.

Ford has taken a number of steps this year to strengthen its balance sheet,
including the sale its Hertz Corp. rental car unit.

It also agreed to bailout former parts subsidiary Visteon Corp. and
announced that it intends to increase the production of hybrid vehicles
tenfold to 250,000 annually.

Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
http://community.webshots.com/album/18644819fHAehGJAjt


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Old 11-19-2005, 07:01   #2 (permalink)
John
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Posts: n/a
Re: Ford to cut 4,000 jobs in North America

On Sat, 19 Nov 2005 09:40:01 -0500, "Grover C. McCoury III"
<gcmccoury@yahoo.com> wrote:

>Sat Nov 19, 2005
>
>(Reuters) Ford Motor Co., facing a deepening financial crisis, said on
>Friday it plans to eliminate 4,000 salaried jobs, or 10 percent of its North
>American white-collar work force, as part of a larger restructuring plan.
>
>A majority of the job cuts -- announced to employees in an e-mail
>distributed by Mark Fields, president of Ford's Americas business -- will be
>made in the first quarter of 2006, spokesman Oscar Suris said.
>
>The cuts will come through attrition, layoffs and the elimination of some
>agency and contract positions, Suris said.
>
>They will be in addition to the 2,750 job losses already announced by the
>automaker this year,
>
>Ford lost $284 million in the third quarter and its automotive division is
>in the red. Its North American vehicle operations have lost more than $1.4
>billion before taxes so far this year.
>
>The company's shares have dropped more than 40 percent since the end of
>2004. They hit $7.57 per share on Thursday, the lowest in more than two
>years, before rebounding to $8.41 per share on Friday.
>
>Ford Chairman and Chief Executive Bill Ford Jr. said last month that the
>automaker will announce its long-awaited restructuring plan -- dubbed "Way
>Forward" -- in January.
>
>He also warned that the plan would include "significant plant closings" to
>help slash costs in North America.
>
>Fields and his team are expected to present Bill Ford with the restructuring
>plan in December.
>
>Ford, like cross-town rival General Motors Corp., has seen its margins
>squeezed by intense competition in the U.S. market and by a dramatic
>slowdown in sales of cash cows such as mid-size and large SUVs due to high
>gasoline prices.
>
>The two companies are also facing higher costs and a cut in their credit
>ratings to high-yield, or "junk," status.
>
>Ford has taken a number of steps this year to strengthen its balance sheet,
>including the sale its Hertz Corp. rental car unit.
>
>It also agreed to bailout former parts subsidiary Visteon Corp. and
>announced that it intends to increase the production of hybrid vehicles
>tenfold to 250,000 annually.
>
>Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
>http://community.webshots.com/album/18644819fHAehGJAjt
>


The world according to John: this is just another step in the
developing global economy coming into balance. The developed
countries get poorer and the under-developed countries get richer.
--
John
'69 Mach 1 390 Toploader Acapulco Blue
ThunderSnake #59
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Old 11-19-2005, 15:01   #3 (permalink)
STUK
Guest
 
Posts: n/a
Re: Ford to cut 4,000 jobs in North America

Ford is hurting in Canada because they aren't building the type of cars most
people are buying here.
Cheap, reliable and good on gas. at $.85 a litre the latter is pretty
important.
They blew their wads on trucks, now Corollas and Echos are what people need.
Oh, but they introduced another Lincoln Pickup...
They better start selling in China cuz no one can afford them here soon.
StuK

ThunderSnake #11


"John" <mooresjc@chartermi.removethisandonedot.net> wrote in message
news:sleun15nnsdnn14u96kcl3vs6jqd0pftuv@4ax.com...
> On Sat, 19 Nov 2005 09:40:01 -0500, "Grover C. McCoury III"
> <gcmccoury@yahoo.com> wrote:
>
>>Sat Nov 19, 2005
>>
>>(Reuters) Ford Motor Co., facing a deepening financial crisis, said on
>>Friday it plans to eliminate 4,000 salaried jobs, or 10 percent of its
>>North
>>American white-collar work force, as part of a larger restructuring plan.
>>
>>A majority of the job cuts -- announced to employees in an e-mail
>>distributed by Mark Fields, president of Ford's Americas business -- will
>>be
>>made in the first quarter of 2006, spokesman Oscar Suris said.
>>
>>The cuts will come through attrition, layoffs and the elimination of some
>>agency and contract positions, Suris said.
>>
>>They will be in addition to the 2,750 job losses already announced by the
>>automaker this year,
>>
>>Ford lost $284 million in the third quarter and its automotive division is
>>in the red. Its North American vehicle operations have lost more than $1.4
>>billion before taxes so far this year.
>>
>>The company's shares have dropped more than 40 percent since the end of
>>2004. They hit $7.57 per share on Thursday, the lowest in more than two
>>years, before rebounding to $8.41 per share on Friday.
>>
>>Ford Chairman and Chief Executive Bill Ford Jr. said last month that the
>>automaker will announce its long-awaited restructuring plan -- dubbed "Way
>>Forward" -- in January.
>>
>>He also warned that the plan would include "significant plant closings" to
>>help slash costs in North America.
>>
>>Fields and his team are expected to present Bill Ford with the
>>restructuring
>>plan in December.
>>
>>Ford, like cross-town rival General Motors Corp., has seen its margins
>>squeezed by intense competition in the U.S. market and by a dramatic
>>slowdown in sales of cash cows such as mid-size and large SUVs due to high
>>gasoline prices.
>>
>>The two companies are also facing higher costs and a cut in their credit
>>ratings to high-yield, or "junk," status.
>>
>>Ford has taken a number of steps this year to strengthen its balance
>>sheet,
>>including the sale its Hertz Corp. rental car unit.
>>
>>It also agreed to bailout former parts subsidiary Visteon Corp. and
>>announced that it intends to increase the production of hybrid vehicles
>>tenfold to 250,000 annually.
>>
>>Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
>>http://community.webshots.com/album/18644819fHAehGJAjt
>>

>
> The world according to John: this is just another step in the
> developing global economy coming into balance. The developed
> countries get poorer and the under-developed countries get richer.
> --
> John
> '69 Mach 1 390 Toploader Acapulco Blue
> ThunderSnake #59



  Reply With Quote
Old 11-19-2005, 15:01   #4 (permalink)
Spike
Guest
 
Posts: n/a
Re: Ford to cut 4,000 jobs in North America

We are heading toward the end of the year, when in many industries,
there will be lay offs. Add in the fuel factor (for production as well
as home heating and transportation), questions about inflation, etc,
and nobody should be surprised.
--

Spike
1965 Ford Mustang Fastback 2+2, Vintage Burgundy
w/Black Std Interior, A Code 289 C4 Trac-Lok;
Vintage 40 16" rims w/225/50ZR16 KDWS BF Goodrich
gForce Radial T/As, Cobra drop; surround sound
audio-video...
See my ride at....
Feb 2004- http://207.36.208.198/albums/86810/003_May_21_3004.jpg
Feb 2004- http://207.36.208.198/albums/86810/005_May_21_2004.jpg
Jul 2005- http://207.36.208.198/albums/86810/d..._11_05_002.jpg
Jul 2005- http://207.36.208.198/albums/86810/E...ebuild_006.jpg
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Old 11-19-2005, 15:01   #5 (permalink)
Wound Up
Guest
 
Posts: n/a
Re: Ford to cut 4,000 jobs in North America

I admit when pondering "used econo-utilibox purchase" for next year or
the year after, my Ford-centric nature is a bit sad. I find my self
thinking about the cars you mentioned before the Focus wagon or the Ranger.

STUK wrote:
> Ford is hurting in Canada because they aren't building the type of cars most
> people are buying here.
> Cheap, reliable and good on gas. at $.85 a litre the latter is pretty
> important.
> They blew their wads on trucks, now Corollas and Echos are what people need.
> Oh, but they introduced another Lincoln Pickup...
> They better start selling in China cuz no one can afford them here soon.
> StuK
>
> ThunderSnake #11
>
>
> "John" <mooresjc@chartermi.removethisandonedot.net> wrote in message
> news:sleun15nnsdnn14u96kcl3vs6jqd0pftuv@4ax.com...
>
>>On Sat, 19 Nov 2005 09:40:01 -0500, "Grover C. McCoury III"
>><gcmccoury@yahoo.com> wrote:
>>
>>
>>>Sat Nov 19, 2005
>>>
>>>(Reuters) Ford Motor Co., facing a deepening financial crisis, said on
>>>Friday it plans to eliminate 4,000 salaried jobs, or 10 percent of its
>>>North
>>>American white-collar work force, as part of a larger restructuring plan.
>>>
>>>A majority of the job cuts -- announced to employees in an e-mail
>>>distributed by Mark Fields, president of Ford's Americas business -- will
>>>be
>>>made in the first quarter of 2006, spokesman Oscar Suris said.
>>>
>>>The cuts will come through attrition, layoffs and the elimination of some
>>>agency and contract positions, Suris said.
>>>
>>>They will be in addition to the 2,750 job losses already announced by the
>>>automaker this year,
>>>
>>>Ford lost $284 million in the third quarter and its automotive division is
>>>in the red. Its North American vehicle operations have lost more than $1.4
>>>billion before taxes so far this year.
>>>
>>>The company's shares have dropped more than 40 percent since the end of
>>>2004. They hit $7.57 per share on Thursday, the lowest in more than two
>>>years, before rebounding to $8.41 per share on Friday.
>>>
>>>Ford Chairman and Chief Executive Bill Ford Jr. said last month that the
>>>automaker will announce its long-awaited restructuring plan -- dubbed "Way
>>>Forward" -- in January.
>>>
>>>He also warned that the plan would include "significant plant closings" to
>>>help slash costs in North America.
>>>
>>>Fields and his team are expected to present Bill Ford with the
>>>restructuring
>>>plan in December.
>>>
>>>Ford, like cross-town rival General Motors Corp., has seen its margins
>>>squeezed by intense competition in the U.S. market and by a dramatic
>>>slowdown in sales of cash cows such as mid-size and large SUVs due to high
>>>gasoline prices.
>>>
>>>The two companies are also facing higher costs and a cut in their credit
>>>ratings to high-yield, or "junk," status.
>>>
>>>Ford has taken a number of steps this year to strengthen its balance
>>>sheet,
>>>including the sale its Hertz Corp. rental car unit.
>>>
>>>It also agreed to bailout former parts subsidiary Visteon Corp. and
>>>announced that it intends to increase the production of hybrid vehicles
>>>tenfold to 250,000 annually.
>>>
>>>Yet another $.02 worth from a proud owner of a 1970 Mach 1 351C @
>>>http://community.webshots.com/album/18644819fHAehGJAjt
>>>

>>
>>The world according to John: this is just another step in the
>>developing global economy coming into balance. The developed
>>countries get poorer and the under-developed countries get richer.
>>--
>>John
>>'69 Mach 1 390 Toploader Acapulco Blue
>>ThunderSnake #59

>
>
>



--
Wound Up
ThunderSnake #65

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