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Word on the street and on the Reuters wire is that FoMoCo will be releasing Way Forward 2.0 — a plan rumored to seek a 30% cut in costs on the white-collar side of the NorAm business. The rumors are also that they'll be seeking those cuts primarily through staff reductions — first through voluntary early retirements and if that magic number isn't reached — through involuntary retirements. This is on top of FoMoCo's already announced plans to cut 30,000 factory jobs and close 14 plants by 2012. But Reuters ain't the only newsies throwing down with the rumoring — the Detroit News has also put money where its mouth is — claiming Ford and the UAW are getting close to...

...living like Ebony and Ivory. The plan, as of now, is expected to include the cuts discussed by Reuters but also an offer of early retirement to all US Ford factories. The Detroit News is also thinking something will be announced on Friday rather than today — either way, pundits seem to believe shit's gonna go down this week.

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So what's the chance of all of this happening? We've no idea — what we do know is something's gotta be done real soon or the Lexus-driving Alan Mulally'll be presiding over some serious red ink over the next few quarters — and who knows what else next year.

Ford, UAW near buyout deal [Detroit News]
Ford to announce sweeping changes: report [Reuters]

Related:
FoMoCo's Way Forward II: Way Out Of Ford? [internal]