Ford to slash 10% of its white collar workers
The planned cutbacks are the latest blow to Michigan's already suffering economy and deal another setback to an auto industry still reeling from the October bankruptcy of Delphi Corp., the state's fourth-largest company, and massive losses at General Motors Corp.
The job cuts, which will include salaried and contract employees as well as workers hired from employment firms, are the latest move by Ford to head off the financial crisis that has battered GM. They are in addition to a plan to cut 2,750 white-collar jobs this year in North America.
One worker said the job cuts will not only hurt employee morale, but also the Michigan economy.
"Why should we be loyal to the company when they are not loyal to us?" said one worker, who has been with Ford for more than 30 years. "People like me are not going to spend money if they don't know if they're going to have a job next week. It's a trickle-down effect." Detroit Free Press