Ford Motor Co. announced Monday it will begin briefing 75,000 hourly workers on October 16 about a variety of buyout packages. Both salaried and blue-collar jobs are on the block. Employees will have until November 27 — the Monday after Thanksgiving — to accept a package. Most packages are expected to take effect on New Year's Day. The plan follows earlier attempts to cut jobs based on location, as the automaker aims to cut 30,000 hourly employees by 2008. In total, Ford plans to close 16 factories as it restructures in the face of decreasing market share especially in its North American home market. Slow sales have led to mounting loses. In the first half of the year, Ford lost $1.4 billion. —Matthew Wurtzel
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