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Author: BFatConservative One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 18135  
Subject: Re: Q1 Results Top Expectations Date: 4/25/2013 2:22 PM
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Info I alluded to but did not have yesterday when I posted:

"Ford's restructuring plan will come with a big bill
But the company did incur about $110 million in restructuring costs in Europe during the quarter. Shanks attributed those to accelerated depreciation for the three factories that the company plans to close in the region, as well as costs related to severance and pensions for departing employees.

Those kinds of costs will continue to weigh as the company's turnaround plan continues to unfold. Ford completed some previously announced reductions in salaried employees during the quarter, but there are layoffs yet to come at the three factories slated to close over the next couple of years, and those layoffs will be expensive.

Ford has already said that severance payments for hourly workers at its plant in Genk, Belgium, could total $750 million or more, an average of $187,500 per worker. With the deal for its salaried workers in Genk yet to be announced, and two more U.K. plants on the to-close list, total costs will be well into the billions."

From:

http://www.fool.com/investing/general/2013/04/24/ford-is-exp...


$110M is a smaller portion of the overall loss than I was hoping for. Ford is in a for a long and painful process.

MjH
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