Ford to cut 25 percent of its capacity
January 20, 2006 2:30 PM ET
NEW YORK, Jan 20, 2006 (UPI via COMTEX) -- Ford Motor Co. plans to close at least 10 factories across North America and eliminate 25,000 hourly jobs.
In an announcement set for Monday, the financially ailing automaker will announce a 25 percent capacity reduction and staff cuts that, with layoffs among salaried workers, will reach 30,000, the Wall Street Journal said Friday. Among plant set to be closed are facilities in St. Louis and Atlanta.
Ford also will reveal its decision to leave the minivan business. Such sales at the financially ailing company, which lost $1.34 billion in North America during last year's first three quarters, sank sharply in 2005: Ford Freestar sales were down 25.1 percent from 2004 and Mercury Monterey sales were off 53.1 percent.
"We have to pick and choose where we want to compete," Mark Fields, Ford's executive vice president and president of the Americas, said in an interview with the Journal last week. "The idea you have to be in all the segments, that's an old way of thinking."
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RE: Ford to quit making minivans
More market share for DCX..............
Dusty
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You mean to tell me that changing the name of a crappy van hasn't increased sales....My friend bought one a while ago and they were practically giving them away. Extremely bland styling
Yeah but how crazy is it to think you can get a minivan from KIA, Toyota, Nissan, Honda, etc etc but not from Ford? Guess DCX will continue to dominate the market!
die ford, die like the ****hole car manufacturer you are. [8D]
Quote:
...the financially ailing automaker...
...Such sales at the financially ailing company, which lost $1.34 billion in North America during last year's first three quarters...
Ford to quit making minivans
