JANUARY 12, 2002
Ford's mammoth job cuts
The Ford Motor Company has announced that it is to close five of its factories in North America and lay-off 35,000 workers.
The job-cutting is design to cut the company's production capacity by a million cars a year because of the over-capacity in the automobile business at the moment.
Despite the cuts, the high-profile but unsuccessful Jaguar Racing in F1 program is to remain untouched.