Ford meets salaried cuts
Ford announced in June that it would cut 15% of its salary-related costs in an effort to become more lean and conserve cash during the brutal automotive downturn. Ford is trying to conserve enough Bennies to pay for its ambitious powertrain plans that will be needed to help the Dearborn, MI automaker offer the fuel efficient vehicles customers want. Fields said that spending on engines and transmissions over the next couple years will be "unprecedented," and that Ecoboost, diesels, hybrids, and other fuel-saving technologies will get the lion's share of the spending. Ford also plans to convert three truck and SUV factories to small car production and add six European models to its product mix.
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