Ford wants to cut another 4,200 jobs

In this June 22, 2007 file photo, Ford Motor Company employee Ralph Gazzillo assembles the 2008 Ford Taurus X at the Chicago Assembly Plant. Ford Motor Co. on Friday, Sept. 5, 2008 said its previously-disclosed plans to cut one of the two shifts at its Chicago assembly plant will mean eliminating about 600 part-time jobs by early November. (AP Photo/M. Spencer Green, file)

The struggling automaker is offering buyout and early retirement packages at manufacturing operations in Ohio, Michigan, Kentucky and Indiana as it continues efforts to trim its factory ranks to match lower demand for its products.

Ford Reports $380M Loss for 3rd-Qtr

by Tom Krisher, AP - Nov 8, 2007

Ford Posts Loss of $380M for 3rd-Qtr, Including $1B Loss in North America

Ford Motor Co. posted a third-quarter loss of $380 million on Thursday, a vast improvement over its $5.2 billion loss a year earlier.

But it was a worse performance than its second-quarter profit of $750 million, its first profitable quarter in two years.

The overall net loss amounted to 19 cents per share for the July-September period in contrast to a net loss of $2.79 per share in the third quarter of last year.

Much of the loss was attributed to $350 million in special items, including an offer to exchange preferred securities and personnel reduction costs in Europe and with its Premier Automotive Group.

The struggling automaker also reported a $1 billion pretax loss on its home turf, North America, but that was an improvement over the $2.1 billion it lost in the year-ago period.

Ford also said it expects to sell its Jaguar and Land Rover units early next year, and it said it has completed a review of Volvo and plans to improve its financial performance.