Ford set to shed 20,000 jobs and shut plants

FT.com ^ | 1/6/02 | Tim Burt and Nikki Tait

[GeneD]

The board of Ford Motor Company will this week approve a wide-ranging US restructuring expected to involve up to 20,000 job losses, the closure of plants and aggressive capacity cutbacks.

A special board meeting has been convened, and the restructuring measures will be unveiled on Friday.

It is understood that at least 8,000 white collar jobs could be shed - 20 per cent of the total - while up to 12,000 hourly workers could be encouraged to take early retirement or voluntary severance packages.

The move marks the culmination of a six-month strategic review led by Nick Scheele, who was promoted to chief operating officer following the removal of Jac Nasser as Ford chief executive in October.

Mr Nasser's departure cleared the way for Bill Ford, great-grandson of founder Henry Ford, to become chairman and chief executive with a mandate to unveil the overhaul of Ford's US operations.

Ford is thought to be seeking savings of $3bn-$5bn to rebuild profitability in its core North American market, the minimum Wall Street views as essential if the company is to remain competitive with foreign automakers.

Ford has warned that it will make a loss of around 50 cents a share, or about $900m, in the fourth quarter. That will leave the group with a deficit of about $1.3bn for the year - although additional charges to cover the restructuring could make the loss much higher.

Ford has already announced plans for single-shift output at its Edison plant in New Jersey, and other plants thought to be at risk include its Ontario plant in Canada, and facilities in Atlanta and St Louis.

The overhaul is likely to involve a shake-up in Ford's powertrain operations. The company could also farm out more engine development to Mazda, its Japanese affiliate.

[KQQL]

No GM has been is kicking Fords butt.

[machman]

A big part of Ford's problems is that GM is starting to do much better, their cars have much higher quality than in the past, and the styling is also much improved. Plus, Ford rode the Truck/SUV craze like made, and it is slowing, now they must start selling cars and they have fallen behind even further in this area.

[eleni121]

What is wrong with lowering wages? But you know the unions won't budge in order to save themselves and their special left wing perks. The problem here is overinflated wages for so called skilled workers who are being outclassed and out performed around the world. I say good riddance to them.

[VA Advogado]

Fair enough.

[VA Advogado]

Oh please. He is/was/still is insane. Since NAFTA was implemented the economy has never been better.

[Long Cut]

Does any of this mean that the new Mach-1 I've been thinking of purchasing later this year will be priced at a sane (20-25 grand) level?
This is what a CONSUMER is thinking right now.

[PatrioticAmerican]

Sad when GM can kick anyone's butt. I have a 2500, and it sucks. The features are real nice, but the quality is very low.

[BJungNan]

Lower wages is not a sustainable competitive advantage. Read Drucker, Porter, and numerous others. The only possible sustainable competitive advantage for the United States is education and knowledge, i.e.,a more and more productive work force.

Yea, but we have still not run out of cheap labor markets around rhe world. When do you suggest the lost jobs in America will return because labor rates around the world have finally caught up to us? I don't think those affected are interested in the very, very long wait you advocate.

[Huck]

You are not alone:

• WHY DID FORD PUT HEATERS IN THE TAILGATES OF THEIR NEW TRUCKS?

  
  

  To keep their hands warm when they are pushing the truck into the shop.

  ---

• WHY ARE THERE SIDEWALKS BESIDE MOST STREETS AND HIWAYS?

  So Ford owners have a safe place to walk home.

  ---

• HOW IS A GOLF BALL DIFFERENT FROM A FORD?

  You can drive a golf ball 200 yards!

  ---

• FORD ACRONYMS:

  Fix Or Repair Daily

  Found On Road Dead

  Backwards... Driver Returns On Foot

  Backwards... Dorks Ride On Fords

  Factory Ordered Road Disaster

  Factory Ordered Rebuilt Dodge(Datsun)

  Flip Over Read Directions

  Four Old Rusted Doors

  Fixed On Race Day

  Ford Owner Really Dumb

  For Only Retarded Drivers

  Fabrication Ordinaire Reparation Dispendieuse - French for ordinary fabrication expensive repairs.

  Ford Owners Recommend Dodge

  Flipped Over Russian Dunebuggy

  Found On Russian Dump

  For Off Road Death

  it Freaking Only Runs Downhill

  Fat Old Rusted Dog

  Freaking Old Rusted Dodge(Datsun)

  Frigin Oakies Really Dig it

  Funky Old Road Dog

  Found On Roadside's Destroyed

  Backwards...Don't Ride Over Fifty

  Fixed-up Old Repossesed Dodge

  Found Old Rebuilt Dodge

  Forget OutRunning Dale

  Found On Railroad Deserted

  Found On Railroad Dead

  Fools Only Read Directions

  First On Repair Dolly

  Favorite Of Redneck Drivers

  Backwards- Dumb Retards Own Fords

  Funny Old Rebuilt Dodge

  Fast Only Rolling Downhill

  Found On Russian Dump

  Forfiet On Race Day

  ---

• PINTO ACRONYMS:

  Paid Inspector Nicely To Overlook

  Put In New Transmission Often

  Put In Nickel To Operate

  ---

• MUSTANG ACRONYMS:

  Massively Under-Sized Tires And No Go

  ---

• LINE FROM A SONG SUNG BY A FAMOUS COUNTRY SINGER

  "I wanta buy me a Ford truck and push it up and down the road."

  ---

• ONE WORD:

  Pinto

  ---

• This is Chevy country and on a quiet night you can hear a Ford rust...

  ---

• A man pulled up next to a little girl walking home from school and said "If you get in, I'll give you a lollypop." The girl kept walking. Following along slowly, the man said "Come on and get in the car with me and I'll give you two lolly pops." She kept her eyes on the sidewalk and continued on her way. The man said "Get in with me and I'll give you this whole bag of lollypops!" Finally, the girl turned and said "Look daddy, YOU bought the Ford, YOU ride in it!!!"

  ---

• Ashes to ashes,
  dust to dust.
  If it wasn't for our Fords,
  our tools would rust.

  ---

• This is your brain "CHEVY", this is your brain on drugs "FORD"

  ---

• Buy a Ford and you buy the best. Drive the first mile and walk the rest.

  ---

• Have you driven over a Ford lately?

  ---

• Ford trucks the worst always rest

  ---

• My parents just bought me a Ford Mustang. "So what did you do to them to tick them off?"

  ---

• I could never keep a Ford under me, I was always under the Ford.

  ---

• Do you know that Ford has admitted they are expensive and unreliable? That new commercial they are running says so! When that country singer says "If I had me some money" he admits he can't afford one, and when he adds that he'd "buy a Ford truck or two" it because he needs a spare.

  ---

• Next time some Fordnatic claims Ford means "First on race day" remind them that anything could be fast if a team of mechanics worked on it all week so it would last long enoug to run a race before needing another weeks work.

  ---

• WHY ARE THE NEW FORD TRUCKS MORE AERODYNAMIC?

  So they will save the Chevy gas when the Chevy tows them away.

  ---

• WHAT SHOULD THE FORD MUSTANG REALLY BE CALLED?

  The Ford Rustang

  ---

• WHY IS THIS COUNTRY SO FAR IN DEBT?

  Because the President drives a Ford

  ---

• WHAT DID THE CHEVY SAY TO THE FORD?

  Would you like a tow home?

  ---

• HOW CAN THEY APPROVE THE NEW FORD TRUCK?

  Put a Chevy engine in it.

  ---

• HOW MUCH WOOD CAN A FORD TRUCK HAUL IF A FORD TRUCK COULD HAUL WOOD?

  As much as the Chevrolet tow truck in front of it.

  ---

• WHAT SHOULD A FORD THUNDERBIRD REALLY BE CALLED?

  A ford thunderturd

  ---

  SPEED KILLS
  DRIVE A FORD
  LIVE FOR EVER

  ---

• I'd rather push a Chevy than drive a Ford!

  ---

• HOW DO YOU DOUBLE THE VALUE OF A PINTO?

  Fill it with gas!

  ---

• Ford Escort Me To A Chevrolet Dealer.

  ---

• Have you outdriven a Ford lately?

  ---

• WHAT SHOULD A FORD TAURUS REALLY BE CALLED?

  A Ford Tortious

  ---

• WHAT SHOULD THE MERCURY COUGAR REALLY BE CALLED?

  "The Mercury Bougar"

  ---

• If Ford mean's(First on race day) It is only because it is still there from the last race day.

  ---

• Ford is just jellouse because Chevy is cheaper and we get to wear our bowtie's all the time.

  ---

• Have you dusted a Ford lately?

  ---

• WHAT'S WORSE THAN DRINKING FROM THE TOLIET?

  Driving a Ford

  ---

• Dusk to dusk
  Hump to hump
  There went
  The ford in
  The dump.

  ---

• From the past 10 years about 90% of Ford trucks are still on the road, the other 10% made it home.

  ---

• WHY DID THE CHICKEN CROSS THE ROAD?

  To push his F-150 back into the shop

  ---

• WHY DIDN'T THE CHICKEN CROSS THE ROAD?

  His F-150 got stuck

  ---

• Not Mustang its MUDstain

  ---

• Ford Explorer=Ford Exploder

  ---

• They are putting handwarmers in all the new FORD cars and trucks.......in the trunk deck on cars, and in the tailgates on the pickups.......good news for the owners, their hands won't freeze when they are pushing them home!

  ---

• WHY ARE FORD DEALERS GIVING AWAY A FREE GERMAN SHEPARD PUPPY WITH EVERY NEW TRUCK?

  So the owners will have someone to walk home with.

  ---

• WHAT SHOULD THEY CALL THE MUSTANG?

  The Must Bang

  ---

• Remember the old ford commercial song? " Ford sucks, the worst trucks ever made, Ford sucks"

  ---

• Built Ford tough with Chevy stuff!!

  ---

• WHY DO THE NEW F-150'S HAVE LARGER SCALE BUMPERS?

  It makes it easier on the tow truck.

  ---

• DID YOU KNOW THAT FORD HAS A NEW MAGNETIZED BUMPER?

  They needed something to pick up the parts that fell off along the way.

  ---

• To the people who say they would rather push a ford than drive a chevy usually do.

  ---

• A Texan was talking big in a bar one night about how much money he had,how many women he had been with and how much land he owned. A young man, growing tired of all the big talk finally asked the Texan, "Just how much land do you actually own"? The Texan tipped back his cowboy hat and said to the young man " Well sonny let me put it to ya like this, I can get in my pickup at sunrise, drive all day long,skip lunch and still not get to the other side of my property by sundown". The young man shot back quickly, " Oh yeah, I know what you mean, I used to own a Ford truck too"!

  ---

• Another country song quoet. Oowo I didn't know the worn out Ford could go so slow you've got to put your foot down on the floor!

  ---

• WHAT SHOULD THE FORD PROBE REALLY BE CALLED?

  The Ford Problem!

  ---

• WHAT WOULD YOU HAVE IF YOU HAD 100 FORD TRUCKS AND ONE CHEVY TRUCK?

  You would have a good junk yard and one good tow truck.

  ---

• License plate holder I saw........."Thank God Ford doesn't build airplanes"

  ---

• WHAT SHOULD THE FORD ASPIRE REALLY BE CALLED?

  The Ford Expire

  ---

  What's up with the Aspire. The only thing thing it could possibly Aspire to be, is pulled by a Chevy tow truck.

  ---

  Bumper stickers seen on a ford: 0-60 in 12 miles, Honk if anything falls off, Never get behind a Ford!

  ---

• HOW COME FORD MAKES TRACTORS AND CHEVY DOESN'T?

  Because Chevy cant get one to run that slow!!!

  ---

  Have you beaten a Ford lately???

  ---

  From a song that I here on the radio a lot.
  "It's another turning point, a Ford stuck in the road."

  ---

  Where do ford owners go for help: FORDS ANONIMUS

  ---

• HAVE YOU SEE THE NEW SPEED LIMIT SIGNS?

  MAXIMUM SPEED LIMIT ------65 MILES PER HR. FORDS DO THE BEST YOU CAN

  ---

  Line from "popular" commercial
  "I have crashed my Ford a thousand times, because it comes with optional brakes"
  
  REFRAIN
  
  Ohhhh how crappy you have made me, ohhh how crappy you have made me!

  ---

  Horrer oh horrer
  there went the ford
  through the door.

  ---

• WHAT IS THE DIFFERENCE BETWEEN A FORD AND A SHOPPING CART?

  A shopping cart sure is alot easier to push

  ---

  That's not a leak, my Ford's just marking its territory!

  ---

  Ff you cant buy a Dodge ,Dodge aFord

  ---

  I was driving my Ford truck down the road,
  When I realized it was gonna explode.
  The Ford motor blew up in my face,
  So I put a Chevy motor in it's place.
  I drove that truck 'till the body panels rusted away,
  But that old Chevy motor still runs to this day!

  ---

• WHAT DOES THE GT STAND FOR ON A MUSTANG?

  Glue together!

  ---

• WHAT SHOULD THE FORD TARUS REALLY BE CALLED?

  The FORD Tow-us

  ---

  Ford...At least they circled the problem.

  ---

[Lessismore]

Detroit has a number of problems, including:

-- the concept that quality goes with size and that therefore small cars can be made less reliable, of shoddier materials and workmanship, and with fewer popular options than big cars,

-- the concept that the buyers can be market segmented, and that small cars should be designed for low-income, first-time-buyers, with a preference for garish colors and styling, and

-- that belief that people will think it is a good idea to buy cars from a factory where labor and management are pissed off at each other all the time.

Until they fix these things, I'll avoid Detroit products.

[Davea]

"We're coming out of this recession"

"We're turning the corner" No really! Just keep chanting this.

[KneelBeforeZod]

The only possible sustainable competitive advantage for the United States is education and knowledge, i.e.,a more and more productive work force.

"The world needs ditchdiggers too"--Judge Schmails

[Conservative]

Ford has committed three major sins:

1. Granted benefits to those who shackup with their homosexual employees.

2. Donated millions to eco-Nazi groups, totally alienating their rural customers.

3. Fired white middle managers in the name of "diversity".

Ford deserves anything bad that happens to it.

[DoughtyOne]

Perhaps you could tell us why any trade agreement needs to consist of over 30,000 pages of text, most of which our elected officals readily admit they never read. If they didn't read it, who did? Their staff didn't have time to do it. The answer is non-governmental organizations did the leg work.

Well, I never voted for those people. They don't answer to me, you or any of our other citizens.

That's non-representative government at it's worst. I am not answerable for your actions. I do not support this agreement in any way shape or form.

[VA Advogado]

Dude, I dont even think we've had the required 2 back to back quarters of negative growth. You Perot/Buchanan birds can't stick your head in the sand fast enough, can you? American haters first and fastest.

[Las Vegas Dave]

Ford = First On Race Day

[madrussian]

As long as the Mustang remains rear- drive and V-8 powered, I don't care WHAT they do.

Mustang is for wannabes. Try Corvette.

Just kidding

[madrussian]

Now that the "I don't want to see so many white faces" is gone, they may have to do a few tough decisions.