Ford: We're Cutting Costs -- But Not Jobs

Ford Motor Company (NYSE: F) CEO Jim Hackett says the Blue Oval needs to cut costs quickly -- but it's not planning to cut any jobs.

In a letter to employees on Thursday, Hackett outlined a cost-reduction plan that includes a hiring freeze and pay cuts for executives, but -- at least for the moment -- no job cuts.

Separately, Ford also said it's going to try to reopen a few of its factories in the U.S and Mexico in April.

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Source Fool.com