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Ford to cut up to 12 percent of salaried jobs

Published 05/28/08 Economy In Crisis - Print Article
E-mail - editor@economyincisis.org

Ford Motor Co plans to cut its U.S. salaried work force by up to 12 percent after its turnaround plan stalled because of the downturn in the U.S. economy, the Detroit News reported on Wednesday.

Ford warned last week it would not achieve its long-standing goal of returning to profitability in 2009 because of the U.S. economic downturn and a permanent shift in demand toward cars and crossovers and away from large trucks and SUVs.

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