Thomson ReutersMarch 21, 2013 16:00
By Deepa Seetharaman and Laurence Frost
DETROIT/PARIS (Reuters) - Ford's <F.N> plan to cut jobs and close plants, once hailed as proactive, may not be enough to halt losses in Europe - where moves to rein in margin-crushing discounts have sparked a further sales plunge.
The U.S. carmaker initially earned investors' praise, and unions' wrath, for three plant closures and 6,200 layoffs designed to reduce excess production capacity, while rivals including General Motors <GM.N> put off the tough decisions.
Follow us: