Ford had a rough 2007, but there were bright spots, among them being news announced today that it managed to trim its fourth quarter losses compared to the same quarter in 2006. The Blue Oval announced today that it lost $429 million, or 20 cents a share, in Q4 2007. Compare that to the $2 billion, or $1.03 a share, it lost during the same quarter the year before, and you can see why sometimes a loss can still be considered a good thing. The company's net loss last quarter was $2.8 billion, or $1.30 a share, which is also a big improvement over the $5.6 billion, or $2.98 a share, loss during Q4 2006.
While operating in the red is never a good thing, the narrowing losses at least show momentum in the right direction, even if the automaker still expects an overall loss in 2008, as well. To further that momentum along, Ford will be cutting more costs in 2008, including offering more buyouts to the 54,000 hourly workers that remain in its employ after over 30,000 workers accepted buyouts in 2006. It didn't say how many additional buyouts would be offered, but Automotive News
is reporting that it will be around 13,000 workers.
[Source: CNN Money]