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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Ford lays off 30 executives in Philippines: report AFP - 2 hours 10 minutes ago MANILA (AFP) - - The Philippine branch of Ford Motor Co. has laid off 30 executives in a cost-cutting measure in the face of the global financial turmoil, a company official was cited as saying Monday. Ford Philippines group president Rick Baker was quoted in the Manila Standard newspaper as saying the lay-offs, which include three vice-presidents, were equivalent to 15 percent of the company's corporate workforce in the Philippines. The move affects both Ford Philippines and its affiliate Mazda Philippines, the newspaper said. Ford and Mazda will save five to seven million pesos (102,400 to 143,560 dollars) a year through the retrenchment, said Baker. "We are implementing this realignment to have a much leaner and efficient workforce," Baker was quoted as saying. Executives of Ford Philippines will now also share responsibilities with the Mazda affiliate, the report said. Officials of Ford Philippines could not be contacted for comment. The US car giant, along with General Motors and Chrysler, are pleading with Washington lawmakers for a bailout package worth billions of dollars to save them from bankruptcy. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Europe stock futures point to sharply higher openReuters - 32 minutes ago S.Korea c.bank to inject $3 billion via Fed creditReuters - 33 minutes ago RESEARCH ALERT-JPMorgan cuts earnings f'casts for UMCReuters - 38 minutes ago China stocks end up 3.6 pct in heavy tradeReuters - 39 minutes ago Spanish stocks - Factors to watch on MondayReuters - 40 minutes ago Enlarge Photo Ford lays off 30 executives in Philippines: report Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed Diamond thieves pull off 100-million-dollar Paris heist Girl, 8, among 17 dead in Manila shoot-out: police Vinnie Jones gets into bar fight over role in X-Men Oil price falls below $40 Climate change: Sci-fi solutions no longer in the margins View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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