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Ford plans major layoffs amid restructuring and losses
Ford Motor Co plans about 35,000 layoffs as part of a $4 billionOne-time charge to fund a restructuring aimed at returning to profitability after a third straight quarterly loss. The plan includes suspending manager bonuses and halting 401 k matches, with thousands already cut via buyouts and early retirements.
MENTIONED IN THIS ARTICLE
Ford
New York Stock Exchange
North America
William Clay Ford Jr
Nick Scheele
United States
Canadian Auto Workers Union
Ontario
CAW
Buzz Hargrove
David Healy
Burnham Securities
Wall Street
Scheele
Continental
Nissan
Jacques Nasser
General Motors Corp
Robert Lutz
Daimler-Chrysler AG
Chrysler Group