More Bad News for Ford
Ford is reportedly considering a new round of plant and job cuts along with reduced employee benefits. The Wall Street Journal said that the automaker’s initial plan calls for 30,000 job cuts and 14 plant closures by 2012, a move that Ford hopes will send a signal to the financial markets that its Way Forward plan is really moving forward.
Among the plants the company is said to be considering closing ahead of schedule are its Wixom, Mich., Lincoln plant and truck plants in Minnesota and Virginia.
Meanwhile, Hyundai Motor Corp. has denied interest in purchasing Ford’s Jaguar brand, saying that the Korean automaker is focusing more on plant constructions around the world.
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