Business
Comprehensive Plan Announced
Comprehensive Plan Announced.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n Ford Motor Co\n23 January 2006\n\n\nMedia Contact: \nOscar Suris, \n313-594-1106, \[email protected]\n\nMedia Contact:\nRay Day, \n313-317-7683, \[email protected] \n\nEquity Investment: \nRaj Modi, \n313-323-8221, \[email protected] \n\n\nFixed Income: \nRob Moeller, \n313-621-0881, \[email protected] \n\n\nShareholders: \n1-800-555-5259 or \n1-313-845-8540, \[email protected]\n\n\n\n\nFORD FIGHTS BACK\n\n\n* Bill Ford: 'Ford Motor Company was solidly profitable in 2005 and growing \n around the world. The next chapter in our history will be remembered for a \n renewed commitment to innovation and as the time we moved boldly to prepare \n Ford's North American business for global competition.' \n\n* Comprehensive North American 'Way Forward' plan focuses every part of the \n business on the customer - to build stronger Ford, Lincoln and Mercury \n brands, a strengthened product lineup and far greater quality, competitive \n costs and improved productivity. \n\n* Product investments will result in new vehicles in new segments to reach \n more customers - including small cars and more crossovers - while \n maintaining Ford's truck leadership. \n\n* Ford is committed to stabilizing its U.S. market share in the near term. \n\n* Competitive cost structure includes net material cost reductions of at least\n $6 billion by 2010. \n\n* Productivity improvements leverage the company's global product development \n scale and lean and flexible manufacturing system to introduce more products \n faster. \n\n* Straightforward vehicle pricing will continue to be introduced with new \n models. \n\n* North American capacity is realigned to match demand - with 14 manufacturing \n facilities to be idled - resulting in significant cost savings and reduced \n employment of 25,000-30,000. \n\n* Salary-related costs are being cut 10 percent in North America with the \n previously announced reduction of the equivalent of 4,000 salaried positions \n by the end of the first quarter. In addition, the company's officer ranks are \n being reduced 12 percent by the end of the first quarter. \n\n* Ford is planning a new low-cost manufacturing site for the future. \n\n* North American automotive profitability is achieved no later than 2008. \n\n* Beginning in 2006, Ford Motor Company will no longer provide earnings guidance \n - to keep the company and invest...