Ford Motor announced Monday that it will make its planned buyout package available to all of its 75,000 hourly workers starting October 16.

The company-wide plan follows previous efforts to cut jobs on a plant-by-plant basis, as the company shoots for its goal of cutting 30,000 hourly jobs by the end of 2008. Both salaried and blue collar jobs are on the block, as the company starts briefing employees next Tuesday on a variety of buyout packages that start taking effect next year.

Ford plans to close 16 factories as it restructures to adapt to the realities of decreasing market share and a stagnant Morth American auto market.

[Source: CNN/Money]

Share This Photo X