Ford has said it expects to take charges in 2006 of US$2.4bn for plant closures, according to Reuters.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The new charges are in addition to the $1bn in charges that Ford announced in March.


The announcement was made in a U.S. Securities and Exchange Commission filing on Wednesday. Ford said about $1.7bn of the charges would be for layoffs and for its jobs bank program. That program dates back to 1984 and guarantees that Ford will pay nearly full wages and benefits to workers whose jobs have been eliminated at least until the current contract with the United Auto Workers expires in September 2007.


Ford also said it would take a charge of about $425m related to pension costs associated and another $280m for other facility-related costs.


Ford will report first quarter results on Friday.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact