Soon after Ford Motor Credit's Pres. A.J. Wagner announced his retirement, the automaker revealed more cuts to the finance arm of their North American operations.

This latest round of cutbacks will involve the closure of 60 branch offices in addition to a series of reductions in their regional bureaus. This Wednesday, Ford will inform the employees of the affected branches of their impending closure or consolidation. The cost cutting is expected to lie to waste approximately 1,500 jobs throughout the firm.

Further cuts are expected to continue through 2007, as Ford Motor Credit follows along with its parent company's restructuring efforts.

[Source: Automotive News]

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