Ford to Cut 10,000 Salaried Jobs

Click here to write a Letter to the Editor.

ord Motor Co. announced Friday plans to cut 10,000 salaried jobs Bloomberg reported Friday.

img src="/sites/default/files/images/articles/fordlogo.gif" width=90 align=right> In addition, the nation’s second largest automaker said Thursday it will offer buyout incentives worth up to $140,000 to all of its U.S. factory workers, the New York Times reported.

The automaker also revised a January forecast that it would earn a profit on North American operations in 2008, saying its loss in the first half of 2006 will delay profits until 2009, according to Bloomberg.

Ford’s decision to offer buyouts to all of its U.S. workers follows negotiations with United Auto Workers and expands upon the company’s earlier plan to offer targeted buyouts to select union workers, Bloomberg said.

In January, Ford said it would cut up to 33,000 jobs in North America and close 14 plants by 2012, Bloomberg reported.

Over the summer, the automaker named a new CEO, announced production cuts of 21% in the fourth quarter and said it would accelerate efforts to trim its work force as part of its “Moving Forward” restructuring plan. (Click here for previous coverage.)