Ford Motor Company has announced plans to close plants ns cut more than 35,000 jobs as part of massive restricting
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The announcement didn’t seem to come as a surprise to many Ford employees.
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Ford Chief Executive, Bill Ford, Jr., called the cuts painful, but necessary to rescue the world’s number two carmaker from going under.
The planned cuts include22, 000 jobs in the U.S. and Canada.
Certain U.S. models, such as the Cougar, Escort, Villager, and Lincoln Continental will be discontinued due to plant closings.
Ford, Jr. said he would receive no salary until the company recovered.
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Ford’s recent financial troubles reflect a complete turnaround from last year, when the company reported a profit of more than $6 billion for the year2000.
The company was hit hard in 2001, when they spent $3 billion during a safety recall.
When news of the plant closings and job cuts the workers, many reacted with emotion.
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Chairman Ford, Jr. says that recovery will be based on getting back to basics in product development and on improving quality and productivity.
