Ford wants to cut more than 75,000 US jobs, its main union has said.
Ford wants to cut more than 75,000 US jobs, its main union has said.
An official for the United Auto Workers (UAW) union said the carmaker plans to offer the workers voluntary redundancy or early retirement packages.
An official for the United Auto Workers (UAW) union said the carmaker plans to offer the workers voluntary redundancy or early retirement packages.
The carmaker, which posted a $123m (£66.5m) loss in the second quarter of 2006, needs to cut costs as it tries to turn itself around.
The carmaker, which posted a $123m (£66.5m) loss in the second quarter of 2006, needs to cut costs as it tries to turn itself around.
Ford said it would be making a statement on its latest cost-cutting plans on Friday morning.
Ford said it would be making a statement on its latest cost-cutting plans on Friday morning.
'Good package'
'Good package'
UAW official Chris Kimmons said Ford would be offering his members a number of deals depending on their years of service and retirement eligibility.
UAW official Chris Kimmons said Ford would be offering his members a number of deals depending on their years of service and retirement eligibility.
Now, its Ford Motor Company's responsibility to lead this company in a positive direction... UAW boss Ron Gettelfinger
"I think it's a good package," he said.
"I think it's a good package," he said.
"I think they worked real hard on it. They've [Ford's bosses] got to do something to help Ford out of this crisis."
"I think they worked real hard on it. They've [Ford's bosses] got to do something to help Ford out of this crisis."
Struggling against falling sales, especially in its main US market, Ford has already announced plans to axe 30,000 jobs and shut 14 factories in the US.
Struggling against falling sales, especially in its main US market, Ford has already announced plans to axe 30,000 jobs and shut 14 factories in the US.
UAW president Ron Gettelfinger said that once again it was his members being asked to step up "to make hard choices under difficult circumstances".
UAW president Ron Gettelfinger said that once again it was his members being asked to step up "to make hard choices under difficult circumstances".
"Now, its Ford Motor Company's responsibility to lead this company in a positive direction which means using the skills, experience and dedication to quality that UAW members demonstrate every day in order to deliver quality vehicles to customers."
"Now, its Ford Motor Company's responsibility to lead this company in a positive direction which means using the skills, experience and dedication to quality that UAW members demonstrate every day in order to deliver quality vehicles to customers," he said.
Possible Aston sale
Possible Aston sale
In July, Ford hired an independent adviser to carry out a strategic review of the business in an effort to return to profitability.
In July, Ford hired an independent adviser to carry out a strategic review of the business in an effort to return to profitability.
And last month, it announced its luxury car brand Aston Martin - made famous by James Bond - could be sold off under its shake-up plans.
And last month, it announced its luxury car brand Aston Martin - made famous by James Bond - could be sold off under its shake-up plans.
There are also suggestions that Ford needs to cut back on the number of models it makes under its eight brands.
There are also suggestions that Ford needs to cut back on the number of models it makes under its eight brands.
Ford currently operates the Ford, Land Rover, Mercury, Lincoln, Jaguar, Volvo and Aston Martin brands and has a joint operation with Japan's Mazda.
Ford currently operates the Ford, Land Rover, Mercury, Lincoln, Jaguar, Volvo and Aston Martin brands and has a joint operation with Japan's Mazda.
Around the globe Ford employs a total of 300,000 workers.
Around the globe Ford employs a total of 300,000 workers.
Are you a Ford employee? How will you be affected by the potential job cuts? Send us your experiences using the form below:
Are you a Ford employee? How will you be affected by the potential job cuts? Send us your experiences using the form below:
