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]