Lexusfreak Posted November 24, 2005 Share Posted November 24, 2005 Details Of Ford Plant Closures Due In January Xinhua Financial News - November 23, 2005 Motor Trend :( Ford Motor Co will give details of its downsizing plans, including plant closings, in January, chairman and chief executive Bill Ford said. Asked after a speech if the number two US automaker would make further cuts in the wake of the General Motors announcement Monday, Bill Ford declined to discuss details. "We will have plant closings to announce," he said. "I am not going to give you a number today. We're going to do that in January as we said we would." General Motors on Monday said it will close at least nine plants and eliminate 30,000 jobs in an effort to remain competitive and restore profitability. Bill Ford said it was important to give the executives formulating the restructuring plan adequate time to come up with a long-term solution. "I need to give them the time to get it right, and we'll announce it when it is right," he said in a question-and-answer session following a speech at the National Press Club on the need for government and industry co-operation on energy-related challenges. "And right now, we think the January timeframe is the right time." In his speech, Ford argued that industry needs to keep investing despite the difficult conditions. "Now, more than ever, with the competitive pressures of globalization, America needs to respond to the economic challenges of our time," said Ford. Quote Link to comment Share on other sites More sharing options...
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