Ford To Make Massive "Involuntary" Cuts

Ford (F) will fire up to 12% of their salaried workforce this summer. Last week, Ford conceded they wouldn’t reach their long sought after goal of being profitable by 2009. They blamed the weak economy and high oil prices for stalling their turnaround plans and necessitating the cuts (not their lack of foresight).

Opinion poll of the day: Which of two iconic US car-makers, Ford or reeling cousin GM, will be the first to go bankrupt or sell to a foreign company?

See Also: GM Running On Fumes: Hits 26-Year Low (And Keeps Falling) (GM)

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