Ford Motor Co. (F) attributes its $123 million losses to slumping sales and the cost of cutting personnel. Restructuring efforts were also announced by the nation's second-biggest automaker.
“We’ve seen an improvement in North America results in the second quarter, but the external factors we face aren’t going to get any easier,” Chairman and CEO Bill Ford said in a statement.
Analysts have criticized the company for keeping quiet on its restructuring progress, but Bill Ford said the company will discuss “additional actions” within the next 60 days, as stated in this article found at MSNBC.com.
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