updated 5/28/2008 8:55:36 AM ET 2008-05-28T12:55:36

A newspaper report says Ford Motor Co. may cut its U.S. salaried work force by up to 12 percent, or more than 2,000 jobs, as it tries to keep its restructuring plan on track amid slumping sales and record-high gas prices.

The Detroit News reported Wednesday that some employees were told about planned involuntary layoffs of about 10 percent — or as high as 12 percent — during a town hall-style meeting on Friday.

A message was left Wednesday seeking comment from Ford.

Ford announced last week it would cut production and no longer expects to return to profitability by 2009. Dearborn-based Ford didn't rule out layoffs and said it would release more detail about cost-cutting efforts in July.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com