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Ford to cut more jobs, CEO says

Having eliminated more than 44,000 jobs, Ford is on track with its turnaround plan but looking to cut more jobs in the face of a softening auto market, according to Detroit Free Press.

Ford reported a better-than-expected net loss of 19 cents per share, or $380 million, in the third quarter -- a $4.9-billion improvement over last year's July-September period. The automaker also revealed it will not sell Volvo and that it has hit its job-reduction targets under its Way Forward turnaround plan for North America.

But Ford CEO Alan Mulally was clear in a conference call with auto analysts and journalists Thursday that the job cuts at Ford are not over, especially given the $1-billion pretax loss in North America in the third quarter.

Posted by Peter C. T. Elsworth  at 10:06 AM to Ford | Permalink

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