UK: Ford to slash 23,000 US jobs - FT
Ford Motor Company's board, meeting yesterday in Detroit, have agreed to a wide-ranging restructuring including the axing of 17,000 jobs and a further reduction of 6,000 contract and agency workers, the Financial Times said. The FT said that Ford's new chairman and chief executive, Bill Ford, told the 14 board directors that the cutbacks were necessary to reverse losses estimated at about $US2 billion for 2001.
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