Industry braces for Ford's "Black Monday"
Just four years after Bill Ford announced a turnaround plan that ended with 20,000 lost jobs, the Way Forward plan looks to slice another 25,000 blue-collar jobs and at least 4,000 white-collar positions in the process of closing up to 10 assembly plants and streamlining Ford's operations. GM's woes have received the majority of attention for its woes and Ford actually turned a profit in '05, but more than a few industry insiders believe that the Dearborn-based manufacturer is actually in worse shape, and much of that has to do with Ford's floundering SUV sales.
Once this plan is executed in full, Ford will have cut approximately 42% of its assembly workforce since Bill Ford took charge of the company in 2001, which corresponds to the eight points of market share that the company has lost in the past decade.
Ford's Wixom plant now appears to be on the chopping block, despite what I wrote last week. We'll know about this - and much more - when the plan is unveiled at 10:30 tomorrow morning. Autoblog will be liveblogging the press conference, starting at 9:30 a.m. (ET), so don't forget to reserve a browser window for us on Monday!
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