Ford To Cut White-Collar Salary Costs By 15 Percent

By: Associated Press
By: Associated Press

DETROIT (AP) - A top Ford Motor Co. executive is telling North
American white-collar workers the company wants to cut its salaried
work force costs by 15 percent.
President of the Americas Mark Fields said in an e-mail message
sent to workers Thursday the cuts will take place by Aug. 1.
Ford spokeswoman Marcey Evans says the company does not have a
target number of employees. The departures will be involuntary, and
workers would get standard severance packages that are based on
years of service.
Evans says the cuts will vary by department.
Ford announced last month it was cutting North American
production for the rest of this year and no longer expects to
return to profitability by 2009 due to the rapidly deteriorating
U.S. auto market.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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