Tomorrow is a big day for Ford employees. The very future of the company is in the balance. Will it be enough? Will the OsMan keep his job, or will he finally have a reason to head east and strap on an explosive belt? Stay tuned, news at 11.
'Black Monday' looms over Ford's future
Ten plants, 25,000 jobs ride on Bill Ford's 'Way Forward' strategy to be announced Monday.
Bryce G. Hoffman / The Detroit News
January 22, 2006
Ford Motor Co. workers already have a name for tomorrow.
"It's Black Monday," said Mark Mockaitis, a line worker at Ford's assembly plant in St. Paul, Minn.
Like workers from Wixom to St. Louis to Mexico, Mockaitis is anxiously awaiting Monday morning when Chairman and Chief Executive Officer Bill Ford Jr. takes the podium in Dearborn to outline a massive restructuring plan he calls the "Way Forward."
As The Detroit News first reported Dec. 7, Ford will shutter at least 10 assembly and parts plants and cut at least 25,000 blue-collar jobs in North America over the next five years, according to people familiar with the plan.
The automaker also plans to cut 4,000 salaried jobs by April 1. The layoffs begin this week. Ford also will commit to reducing its number of top executives by March 1.
