Ford Motor Co. announces plans to eliminate 25,000 to 30,000 jobs in North America -- more than 20 percent of the workforce.
The long-awaited restructuring plan also includes closing 14 plants in the United States, Mexico and Canada over the next six years.
But any job cuts will have to be negotiated under the terms of the labor contract with the United Auto Workers union, and Ford officials said they did not believe the company could shrink its way back to prosperity.
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