Ford to cut 30,000 jobs

This is not good news at all :nope:

http://www.latimes.com/business/la-fi-ford24jan24,1,5737227.story?coll=la-headlines-business

Ford Motor Co. executives said Monday that the company would close 14 factories, eliminate as many as 30,000 jobs in North America in the next six years and work to make vehicles that customers want rather than force-feed them the big trucks that the company has been most comfortable building.

Although the plan is sweeping, many analysts said it might be too tame to enable the company to reassert itself in the crucial U.S. auto market.

In announcing the long-awaited restructuring, Chairman William Clay Ford Jr. and North American chief Mark Fields said the plan ultimately would save $6 billion a year and enable the company to develop its vehicles faster, build them more efficiently and sell them on the strength of innovation, improved quality and bold design.

Ford's North American auto operations have lost $1.6 billion in the last year. U.S. sales volume has plummeted by more than 25% in the last decade, and Ford's market share has fallen to its lowest point since the 1920s.