Ford cuts 200 salaried jobs

Thu Jul 24, 2008 1:17pm BST

[-] Text [+]

DETROIT (Reuters) - Ford Motor Co (F.N) on Thursday said it cut 200 white-collar jobs in the second quarter and was on track to cut its salaried payroll costs by 15 percent by August 1 under a previously announced plan.

The automaker also cut 1,800 manufacturing positions at its factories. Ford is currently offering buyouts to workers represented by the United Auto Workers union.

Including those job cuts and reductions at its component holding company ACH, Ford said it had cut its North American auto payroll in the second quarter to 84,700, from 88,600 as of the end of March.

(Reporting by Kevin Krolicki; Editing by Derek Caney)

Do banks do "God's work"?

The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work". Blog