• Sep 13th 2006 at 8:08AM
  • 4

Now that Ford's got a new captain at the helm, it's full steam ahead for the "Way Forward." According to Reuters, Ford's board of directors will be instituting the second stage of its plan and is expected to release an overview of the strategy later today. Some of the proposals to be announced include a 30 percent reduction in white collar workers and a new pricing strategy, with more details to follow over the course of the month.

The proposals come on the heels of the first wave of "Way Forward" transformations, including plans to reduce the company's hourly workforce by 30,000 jobs and close 12 plants by 2012. The Way Forward plan so far has yet to produce the results Ford was hoping for, according to critics and analysts.

[Source: Reuters]

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    • 1 Second Ago
      • 9 Years Ago
      One analyst was quoted saying that he expects Ford to take a $3 billion charge for a variety of items. One of the items listed is 'brand exit costs'. Say goodnight Mercury, you're off to dreamland with Oldsmobile, Plymouth, AMC and those who came before and after you.
      • 9 Years Ago
      I know! It truly is sad to see such a great american icon fall to the wayside. They are starting to make same great products and i hope that this is not the beginning of the end, but the beginning of a bright and prosperous future!
      • 9 Years Ago
      Very smart move... reduce 30% of their white colour jobs. Hmmm... just how many talented people are left Ford?
      • 9 Years Ago
      Well, good luck ford :)
      hope things pick up for them.

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