The Ford Motor Company said today that it would cut 10,000 more salaried jobs, close two more factories and eliminate its stock dividend, as the latest steps in a broad overhaul of its business that it calls the Way Forward. The list of cost-cutting steps that Ford announced this morning did not include many moves that analysts and various news reports had predicted. The company did not say it would close any more of its assembly plants, although it did say it would shut two parts plants in Maumee, Ohio, and Essex, Ontario.
See "Ford Takes New Steps to Cut Costs", Micheline Maynard, The New York Times, September 14, 2006