Ford cuts global production

January 10, 2002 Posted: 0017 GMT

WINDSOR, Ontario (Reuters) -- Ford Motor Co. plans to cut one million units of its production capacity worldwide as part of a sweeping restructuring plan, the head of the Canadian Auto Workers union said after meeting Ford officials late on Thursday.

"Their argument is they need to cut one million units throughout Ford Motor Co. and everyone knows that's a lot of jobs," said CAW President Buzz Hargrove.

"We're frustrated, we're angry," Hargrove said, after a closed-door meeting with senior Ford executives, including the company's chief of labor relations, in this Canadian city across the river from Detroit.

Hargrove declined to give specifics of the job cuts Ford is expected to announce when it reveals details of its long-awaited turnaround plan on Friday. But he said the cuts would be made in the United States, Canada and Europe.

Speculation has centered on reports that Ford (F: Research, Estimates) will cut about 12,000 white-collar jobs and announce plans to close three North American assembly plants, including one in Ontario, as part of its strategy to return to profitability after its first annual loss since 1992 in 2001.