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News // Autos

World Auto Giant Cuts Costs For 20%

08 April 2003 , 09:02452
Ford in order to cover poor car sales and investor scepticism cuts 20% from its administration and marketing budgets.

The company said nine cost-cutting teams has each been asked to save 20% from non-product costs.

The implementation of the cost reduction teams follows a pledge last autumn by Bill Ford, chairman, to speed up the revitalisation plan, which aims to make $7bn of pre-tax profit by mid-decade.

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