14,000 Ford management jobs to go
Ford is to cull 14,000 American white-collar staff within the next six months and accelerate the axeing of 30,000 production line workers who will be out of a job within two years.
In a major overhaul of its American operations - the third major shake-up at the cash-strapped carmaker in three years - the future for Jaguar and Land Rover looks as uncertain as ever.
Though the latest restructuring is aimed at eliminating $5bn (£2.7bn) of costs Stateside, Ford also highlighted that its Britishbased Jaguar and Land Rover operations remain one of its poorest performers with the upmarket marques of Ford's Premier Automotive Group still loss-making.
Ford has already put its Aston Martin operations up for sale, and few analysts believe Jaguar and Land Rover will not follow.
Growing speculation in the West Midlands that Renault is ready to swoop on Jaguar were rebutted by the French carmaker.
'There is no truth in this,' said a spokesman. Announcing it is axeing a third of its salaried workers in the US, Ford said it is offering redundancy packages to all its workers. Reports suggest these could be worth up to $140,000 to all 75,000 workers at its US plants.
On the production line, the 30,000 jobs and 14 plants that were supposed to be going by 2012 are now to make the cuts and shut down by the end of 2008.
In charge of implementing the culls is Alan Mulally, who joined the company only last month after being credited with the turnaround at the commercial aircraft division of Boeing.
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