Ford to Take $2.4-Billion Charge to Shut Plants
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From the Associated Press
Ford Motor Co. said it would take a charge of $2.4 billion this year to shut plants as part of its restructuring.
Ford plans to close 14 manufacturing facilities and cut as many as 30,000 jobs by 2012 under a restructuring plan announced this year.
In a filing with the Securities and Exchange Commission, the automaker estimated the plant closings would cost $2.4 billion this year, including $1.7 billion to cover buyout packages and benefits for laid-off workers.
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