Ford Motor Co. said Thursday it intends to release its new restructuring plan on Friday, Sept. 15. The Dearborn, Mich.-based automaker in January announced plans to cut 30,000 employees and close a dozen plants in a bid to return to profitability called The Way Forward, but has since said that those cuts are not deep enough. The company has not commented on specifics about the new restructuring plans, but industry sources have indicated in recent weeks it is likely to include further plant closings, blue-collar buyouts and a cut in administrative expenses by upwards of 30%. The automaker said Thursday that its board has been meeting for two days to discuss the restructuring plan.—Lou Whiteman
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