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Cuts - USA - Ford's fix-it plan
Up to 30,000 workers to be eliminated and at least 10 factories to closeDEARBORN,Mich.,USA -The Detroit News, by Bryce G. Hoffman -Dec 07, 2005: -- Ford Motor Co. executives will present a restructuring plan to the company's board of directors today that calls for closing at least 10 assembly and component plants and eliminating 25,000 to 30,000 hourly jobs in North America within five years, according to people familiar with the plan... The cuts would be deeper than many had expected, signaling the urgency of Chairman and CEO Bill Ford Jr.'s push to restore the automaker's ailing North American operations... Ford cannot afford for its North American factories to operate inefficiently. Over the past year, Ford's pretax profits in North America have fallen from almost $1.8 billion in the first nine months of 2004 to a loss of nearly $2.2 billion for the same period in 2005. Ford, Lincoln and Mercury's share of the domestic market has dropped to 17.4 percent, compared to 25.6 percent in 1995... (Photo: Paul Sancya / Associated Press - The fate of Ford's Wixom plant, which has been the subject of much speculation in recent months, is still up in the air.)
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