Ford Motor Credit to cut 2,000 jobs, restructure
"Business"09/28/2006
DETROIT (Reuters) - Ford Motor Credit, the financial arm of Ford Motor Co. (F) said on Thursday it would cut 2,000 jobs—almost a quarter of its staff in North America—and close branch offices in order to cut costs.
Ford said the planned job cuts, which follow a similar program of cost-cutting by Ford’s loss-making auto operations, would be made through a combination of attrition, early retirement and, if necessary, firing.
Ford Motor Credit, which provides auto financing through Ford’s dealer network, said it currently has about 8,600 employees in the United States and Canada.