Ford’s restructuring plan is on track and the company will take further steps if needed to meet its targets, chairman and chief executive William Clay Ford said in Geneva on Tuesday, according to Reuters.

Reuters reported that Ford told journalists at the Geneva Motor Show that Ford Motor Company, which in January announced 35,000 job cuts and the closure of up to seven North American plants, had prepared a “worst-case scenario” which it could implement if necessary.

Ford told Reuters: “We would be foolish if we didn’t have a Plan B fairly well thought out.”

The report adds that the company aims to break even in 2002 and to post annual pretax operating profits of $7 billion by the middle of the decade.

Bill Ford also said that positive developments at the group’s European unit, also in the midst of an overhaul, provided hope for the US operations, according to the Reuters article.