Ford to Cut 10% of Workforce

Posts $129 million loss in Q3

Ford announced on Nov. 7 it lost $129 million in the third quarter. The quarterly figures compare with a loss of $380 million in the same quarter a year earlier.

The company announced it would be cutting 10% of its workforce.

The automaker, which saw sales slide more than 30% in September and October in the U.S., said its job cuts would aim to retool production toward vehicles that use less gas while cutting production of larger vehicles.

Copyright Agence France-Presse, 2008

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