Ford to cut 25,000-30,000 jobs

Newswire

DETROIT, Jan 23 (Reuters) - Ford Motor Co. on Monday said it will cut 25,000 to 30,000 jobs in North America by 2012 and plans to idle 14 manufacturing facilities, hoping to turn around the money-losing unit. The sweeping restructuring plan also called for reducing capacity by 1.2 million units, or 26 percent, by 2008, and targets a material cost reduction of at least $6 billion by 2010. The job cuts are the deepest since since Ford launched a multiyear restructuring program in 2002.

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