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Ford to Slash Jobs, Close Plants

By Jack Speer
Published January 23, 2006 at 9:26 AM PST

Job cuts and plant closings are in the cards for Ford Motor Company, which announced a major restructuring plan Monday. The automaker is attempting to regain its footing in a highly competitive U.S. auto market.

The nation's number two automaker remains profitable overall, but has lost American market share to competitors from abroad for the past decade. The anticipated announcement of 25,000 to 30,000 job cuts by 2012 is part of a program the company describes as "The Way Forward." As many as 14 plants will be closed.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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Jack Speer
Jack Speer is a newscaster at NPR in Washington, DC. In this role he reports, writes, edits, and produces live hourly updates which air during NPR programming.