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Subject:  Ford: Ax to cut deeper Date:  11/15/2006  12:35 PM
Author:  mishedlo Number:  5647 of 7023

Ford: Ax to cut deeper
UAW givebacks, plus lower design and purchasing costs will be required.
Ford Motor Co. will have to cut more costs and wrest concessions from the United Auto Workers to meet its goal of restoring a slim profit to its North American automotive operations by 2009, Chief Financial Officer Don Leclair said Tuesday.

The comments, which come seven weeks into new CEO Alan Mulally's tenure, mark the first time Ford has acknowledged it needs cutbacks that go beyond its massive Way Forward restructuring plan announced in September to meet the 2009 profit goal. "Reducing costs is our life's work," Leclair said in an interview with The Detroit News.
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http://www.detnews.com/apps/pbcs.dll/article?AID=/20061115/AUTO01/611150357
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