Operations

Ford to Unveil Accelerated Plan for Restructuring

Posted on August 16, 2006 by LCT Staff - Also by this author - About the author

DETROIT — Ford Motor Co. plans to announce moves soon to accelerate its restructuring plan, according to Ford Americas President Mark Fields. Ford unveiled its far-reaching "Way Forward" restructuring plan for North America in January, and the blueprint called for 14 plant closures and as many as 30,000 job cuts by 2012. The company has begun making progress on certain elements of the plan, Mr. Fields said, but the pace of change in the U.S. light-vehicle market due to high gasoline prices and other factors has sent Ford back to the drawing table on the plan. Mr. Fields said Ford isn't crafting a new plan, but instead is simply speeding up the existing plan.

Fields said Ford is working to pull ahead key vehicle launches and announced a new flagship car for the company's Lincoln brand. Ford plans to build a full-size sedan called the Lincoln MKS. The vehicle was shown in concept form at the 2006 Detroit auto show and is slated to hit the market in 2008.

Source: Wall Street Journal

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