Ford will speed up restructuring after 2Q loss

Ford Motor Co. says it will accelerate its North American restructuring effort after posting a $123 million loss for the second quarter of 2006, meaning more job cuts and plant closings could be ahead.

The struggling automaker has already announced plans to shutter 14 factories and eliminate as many as 30,000 factory jobs in the region by 2012.

"We need to go farther and faster," Chairman and CEO Bill Ford Jr. said Thursday. Ford said he has asked Ford Americas President Mark Fields to accelerate the 'way forward' plan announced in January and the company will release details within the next 60 days.


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SteveL - 7/20/2006 2:51:27 PM

+1 Boost

Thats what you get when you are lying cheaten company and only care about yourself and no the public