Ford to Eliminate
4,000 more Jobs
November 20th, 2005
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Ford SUV |
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Ford announced on Friday,
November 18th, that they plan to lay off 4,000 salaried
jobs. The financial strain that the Ford Motor Co. is experiencing,
has forced the job cuts of around 10% in the US for the white collar
workers.
This is an attempt to
restructure their company to pull out of the financial crisis. They
announced by email that they will make the cuts in the first quarter
of 2006.
Ford has already
announced 2,750 job losses this year; this will bring the total up
do 6,750 jobs lost in the next few months. The reason for all the
jobs being lost is because in the 3rd quarter of 2005
they lost $284 million. The North American division lost more $1.4
billion this year before taxes are calculated.
Plans to close plants in North
America are in the equation for their ability to pull out of this
financial crisis.
In December the restructuring
plan will be announced which will more than likely include more lay
offs. These workers will be looking for new jobs.
SUV vehicles have been a strong
seller for Ford that is until the gas prices started to rise. This
could be part of the reason for the failing profits. Ford also has
import brands - Jaguar, Aston Martin, Land Rover, and Volvo.
By
Nicole Wilson
Best Syndication Staff Writer
Common Keywords and Misspellings: IFord motor
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