It is not a secret anymore. The Ford Motor Company that used to be part of the Big Three is now suffering from a loss of finances. But the company is set on making a comeback and bringing back the funds that were lost. Currently, they are now planning on doing a restructuring in their company. Rumors have it that the company would be announcing the final plans for the restructuring come this September. But sources say that Ford is set on creating more products like Ford Fiesta parts but with fewer workers.
Sources coming straight from the company are claiming that this auto manufacturer from Dearborn is planning on offering its employees who are paid by the hour a buyout package. Rumors also have it that perhaps even white collar employees would also be offered such a package. This would be done so as to quickly move towards their aim at having lesser workers. On this situation, Dr. David Cole has an analysis, "Ford has more younger workers under age 40 than GM had, and it's tough for them to accept a buyout at that age." Dr. Cole is the executive director for the Center for Automotive Research which is based in Ann Arbor, Michigan. So perhaps it is going to be quite a difficult situation indeed for Ford.
If the rumors that the Ford Company would be cutting down twenty five per cent of its workers who are billed hourly and who are billed per month, then it would translate to around 30,000 people going to be jobless. And all these would be happening in the next twelve months. Mark Fields, the president of Ford for operations in the North and South America, states, "Everything we are doing to fix the company has to be done much faster than we originally planned."
Aside from that, experts in the industry are also agreeing that the company has far too many products in the market which are no longer the kind of things that the market wants. Many have gone out of fashion like several of the company's pick up trucks and large sport utility vehicles. If the company would be able to trim down their vehicle range and find that vehicle that would send the money back to the company, it would not be surprising if the company starts to get back on its feet.