Monday, May 7, 2007

UPDATE 1-Ford says 25,000 workers gone, closes casting plant

(Reuters) - Ford, which posted a record loss of $12.7 billion in 2006 and another $282 million loss in first quarter, is in a four-year turnaround plan announced in 2006 that aims to cut 16 plants and up to 45,000 jobs.

About 38,000 Ford workers, including workers from the automaker's Automotive Component Holdings subsidiary, initially accepted buyout offers, which the company offered last year under an agreement with the United Auto Workers union.


Read more at Reuters.com Bonds News

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