Despite the completion of today's FoMoCo board meeting, there's no official word yet from the Dearborn-based- and-still-Number-2 automaker on version 2.0 of the company's Maotastic Way Forward plan. The automaker's instead got a press conference planned for early tomorrow morning (issuing a release at the ungodly hour of 7:00 Am — have they no decency?!). But for those of you who simply must have that information now — like if for instance you're an employee of FoMoCo or you know, have your life savings all in that shit, the cat and kitten over at the New York Times, the tag team of Micki Maynard and boy wonder, Nick Bunkley, have read the tea leaves and pulled from the ethereal plane a UAW fax to leadership providing clear indication on the moves the automaker's making — and it's way, way, way big n' bold. Like, 75,000 job cuts bold! And that's a hella lot more than the 30,000 previously discussed in the media — talk about beating expectations. And whenever you've gone and beaten back the pundits expectations, the first question, after "who the hell cares?" is always "how's the market reacting to the story?" Pretty well, considering FoMoCo's shares were down 3% earlier in the day on indications of big quarterly and annual losses. Now, the Big Board's "F" is merely down a half a point —
not too shabby considering the circumstances. We're still interested to hear what the first Bill Ford-less "Way Forward" press conference will sound like tomorrow morning — so who knows, we may end up heading down to Dearborn for a first-person perspective.
75,000 to Leave Jobs at Ford Under New Plan [NYT]
Related:
All Brand: Ford Stays Regular [internal]