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US Auto Giants Weaken Further (7 Dec 2005)

The Detroit News reports today that Ford is about to announce a restructuring plan that will lead to closure of some 10 plants and up to 30,000 hourly job losses across North America. Less than a week ago The Wall Street Journal indicated Ford was about annouce clossure of five factories employing some 7,500 workers.  Last month Ford said it would eliminate 4,000 salaried positions, in addition to the 2,750 salaried jobs cut earlier this year. Like its bigger rival, GM, Ford has been grappling with high fuel expenses, a costly labor force, retiree health care and pension costs and aggressive competition from foreign automakers such as most notably Toyota.GM itself recently said its restructuring plan would lead to the company cutting about 30,000 jobs.