Ford May Close 5 Plants; 7,500 jobs
12-02-2005, 07:37 AM
#1
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Ford May Close 5 Plants; 7,500 jobs
http://money.cnn.com/2005/12/02/news...ex.htm?cnn=yes
Ford may close five plants
Report: The automaker is likely to shut North American facilities that employ about 7,500 workers.
December 2, 2005: 5:54 AM EST
NEW YORK (Reuters) - Ford Motor Co. is likely to close five plants that employ about 7,500 workers, or about 6 percent of the company's North American work force, the Wall Street Journal reported Friday.
Citing two people familiar with Ford's (Research) product plans, the paper said the company was likely to shut assembly plants in St. Louis, Atlanta and St. Paul, Minn., as well as an engine-parts plant in Windsor, Ontario, and a truck-assembly plant in Cuautitlan, Mexico.
The plans to shut the plants were still being formulated and were subject to change, the Journal added.
Ford, facing a deepening financial crisis, has promised to unveil a radical restructuring in North America early next year.
The company lost $284 million in the third quarter. On Thursday it said sales fell for a third straight month, down 18 percent, and cut its production forecasts for the fourth and first quarters.
In November, the company announced plans to eliminate 4,000 salaried jobs, or 10 percent of its North American white-collar work force, as part of the larger restructuring plan.
Ford may close five plants
Report: The automaker is likely to shut North American facilities that employ about 7,500 workers.
December 2, 2005: 5:54 AM EST
NEW YORK (Reuters) - Ford Motor Co. is likely to close five plants that employ about 7,500 workers, or about 6 percent of the company's North American work force, the Wall Street Journal reported Friday.
Citing two people familiar with Ford's (Research) product plans, the paper said the company was likely to shut assembly plants in St. Louis, Atlanta and St. Paul, Minn., as well as an engine-parts plant in Windsor, Ontario, and a truck-assembly plant in Cuautitlan, Mexico.
The plans to shut the plants were still being formulated and were subject to change, the Journal added.
Ford, facing a deepening financial crisis, has promised to unveil a radical restructuring in North America early next year.
The company lost $284 million in the third quarter. On Thursday it said sales fell for a third straight month, down 18 percent, and cut its production forecasts for the fourth and first quarters.
In November, the company announced plans to eliminate 4,000 salaried jobs, or 10 percent of its North American white-collar work force, as part of the larger restructuring plan.
12-02-2005, 11:22 AM
#3
on to the next one...
The plant here in Saint Paul, MN (Home of the Ford Ranger 
)will definitely be closing down soon. They have been laying off the workers steadily for the last 5 years and it's only a matter of time before they close the doors on their plant here. It's a HUGE facility, right on the Mississippi River in the middle of a residential area. The site takes up about 10-12 city blocks and the property will be a VERY hot comodity...
)will definitely be closing down soon. They have been laying off the workers steadily for the last 5 years and it's only a matter of time before they close the doors on their plant here. It's a HUGE facility, right on the Mississippi River in the middle of a residential area. The site takes up about 10-12 city blocks and the property will be a VERY hot comodity...
12-02-2005, 12:38 PM
#4
The sizzle in the Steak
Originally Posted by biker
Any maker who relied so heavily on trucks and SUV will have the same problem.
Better start making more cars. 
12-02-2005, 01:01 PM
#5
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If you think about it, other companies that do have nice car sales don't exactly have a huge car lineup that makes up the majority of those sales- Toyota, their core cars are the Corolla and Camry/ Honda Accord and Civic.
You'd figure Ford and GM, knowing this, would put a lot of money towards developing cars for these segments to make them high quality and less on other niche cars.
You'd figure Ford and GM, knowing this, would put a lot of money towards developing cars for these segments to make them high quality and less on other niche cars.
12-02-2005, 06:11 PM
#6
Race Director
Originally Posted by heyitsme
You'd figure Ford and GM, knowing this, would put a lot of money towards developing cars for these segments to make them high quality and less on other niche cars.
The problem with all of the big 3 is that even if they could go back to their sales of the past with cars instead of trucks/SUV, they'd still be in financial trouble cause they wouldn't make as much money off that volume as they did with trucks/SUVs.
There was an article yesterday where GM wanted to cut back on its fleet sales from 25 to 20%. The article said the average fleet wholesale transaction was $15000. Of course they can't make money on that.
12-02-2005, 10:19 PM
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Ford is said to be looking to axe the ancient Atlanta plant and save jobs at Wixom. Future Lincolns will be continue to be built @ Wixom. The State of Michigan has hinted that they are looking at widening the I-96 and Wixom Road interchange... I was wondering why, considering that the plant was said to be closing soon. Maybe not!
The Ranger won't be missed. The new Explorer Sport Trac will basically replace it.
The Ranger won't be missed. The new Explorer Sport Trac will basically replace it.
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12-03-2005, 09:26 AM
#8
Senior Moderator
Not good for Windsor ... the engine plant is going (I used to live about 5 miles from that place). If my city doesn't diversity, it will be a ghost town 10 years from now. What bugs me most is how militant the CAW (Canadian equivalent to UAW) is in this very uncertain time ... make consessions, dammit! Your US counterparts are, why aren't you?!
Honda is gonna open up another plant in North America ... rumours have it, in Ontario ... I read in our local paper that a Honda insider said Windsor is the last place ON EARTH it would build it because of the CAW. :idiots: Now who else would build here if Windsor has such a bad reputation?! (end rant)
But it's not a good time to be a Big3 worker right now ...
Honda is gonna open up another plant in North America ... rumours have it, in Ontario ... I read in our local paper that a Honda insider said Windsor is the last place ON EARTH it would build it because of the CAW. :idiots: Now who else would build here if Windsor has such a bad reputation?! (end rant)
But it's not a good time to be a Big3 worker right now ...
12-07-2005, 01:07 PM
#9
Safety Car
Thread Starter
10 Plants
http://money.cnn.com/2005/12/07/news...ings/index.htm
Ford seen cutting up to 30,000 jobs
Report: Restructuring could close up to 10 plants, cutting far deeper than earlier reports.
December 7, 2005: 9:34 AM EST
NEW YORK (CNNMoney.com) - Ford Motor Co. plans to close at least 10 plants and cut 25,000 to 30,000 hourly jobs in North America within five years, according to a published report Wednesday.
The Detroit News, quoting people familiar with the plan, said the deep cuts will be presented to the Ford board of directors for consideration Wednesday. It will not be revealed to the public until Jan. 23, according to the paper.
The cuts are much deeper than earlier reports, which initially had Ford closing as few as three assembly plants and cutting only about 7,000 positions.
Ford spokesman Oscar Suris would only tell the paper, "Our work continues. These plans will be final when they're ready to be shared publicly."
The paper said that the shakeups at Ford will include the departure of as many as seven top executives in the coming weeks.
Ford had 87,000 UAW-represented workers in North America at the end of 2004, along with about 11,600 union workers in Canada, according to the paper.
The depth of the cuts would be comparable to the plans announced at General Motors two weeks ago to close a dozen North American facilities and eliminate about 30,000 hourly jobs.
Sources familiar with Ford's strategy told the paper the decision about which plants to close has not been finalized, adding that Ford may only announce a few specific plant closures in January. UAW Vice President Gerald Bantom told the paper that the details of Ford's restructuring plan will be released Jan. 23, but said the union does not know the extent of Ford's planned cuts.
"We're hoping that nothing happens," said Bantom, who heads the UAW's Ford bargaining unit. "But we know that's not going to happen."
Over the past year, Ford's pretax profits in North America have fallen from almost $1.8 billion in the first nine months of 2004 to a loss of nearly $2.2 billion for the same period in 2005.
Ford seen cutting up to 30,000 jobs
Report: Restructuring could close up to 10 plants, cutting far deeper than earlier reports.
December 7, 2005: 9:34 AM EST
NEW YORK (CNNMoney.com) - Ford Motor Co. plans to close at least 10 plants and cut 25,000 to 30,000 hourly jobs in North America within five years, according to a published report Wednesday.
The Detroit News, quoting people familiar with the plan, said the deep cuts will be presented to the Ford board of directors for consideration Wednesday. It will not be revealed to the public until Jan. 23, according to the paper.
The cuts are much deeper than earlier reports, which initially had Ford closing as few as three assembly plants and cutting only about 7,000 positions.
Ford spokesman Oscar Suris would only tell the paper, "Our work continues. These plans will be final when they're ready to be shared publicly."
The paper said that the shakeups at Ford will include the departure of as many as seven top executives in the coming weeks.
Ford had 87,000 UAW-represented workers in North America at the end of 2004, along with about 11,600 union workers in Canada, according to the paper.
The depth of the cuts would be comparable to the plans announced at General Motors two weeks ago to close a dozen North American facilities and eliminate about 30,000 hourly jobs.
Sources familiar with Ford's strategy told the paper the decision about which plants to close has not been finalized, adding that Ford may only announce a few specific plant closures in January. UAW Vice President Gerald Bantom told the paper that the details of Ford's restructuring plan will be released Jan. 23, but said the union does not know the extent of Ford's planned cuts.
"We're hoping that nothing happens," said Bantom, who heads the UAW's Ford bargaining unit. "But we know that's not going to happen."
Over the past year, Ford's pretax profits in North America have fallen from almost $1.8 billion in the first nine months of 2004 to a loss of nearly $2.2 billion for the same period in 2005.
12-07-2005, 11:00 PM
#10
That was uncalled for...
Originally Posted by derrick
But it's not a good time to be a Big3 worker right now ...
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