Ford slashes automotive debt 38 percent
Ford Motor Co said on Monday it has slashed automotive debt by 38 percent, or $9.9 billion, bolstering its finances amid a deep auto industry downturn, and its shares were up about 19 percent.
Ford Motor Co. will cut 15 percent of its salaried costs by reducing the number of salaried employees and agency and contract workers, and not filling open positions.