Ford to Cut 10% of Workforce

Nov. 7, 2008

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.

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.