Ford Motor Company is facing the most knotty stage of its existence. Last Friday, Ford Motor Company announced two additional factory closures and the laying off of 10,000 workers.
There has been efforts exerted to save the automaker but they proved to be futile. Unfortunately, Ford has marked the end of the line for its thousands of workers to slash the expenses for its salaried jobs. Moreover, the automaker is also offering buyouts to its 75,000 hourly workers.
"The simple fact is that the business model that served us in North America for decades now longer works. We must change to a new business model that delivers greater bottom-line contributions from cars and crossovers, continued leadership in pickups, new products that drive revenue and actions that move rapidly to reduce our costs to achieve profitability," says Mark Fields, executive vice president of Ford Motor Company.
Fields also confirmed the fact that it will be idle 2 more plants - one in Canada and another in Ohio. By 2008, Ford has already accumulated 16 plant closures. The cuts made by Ford will reduce its working force by 29 percent. Further, from its recent 130,000 workers, said figure will drop to approximately 92,000. As a result, employees were shaken and rattled.
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