DEARBORN, Mich. (AP) - When Ford Motor Co. reports third-quarter earnings Wednesday afternoon, investors will be looking for details on how the company plans to remake itself.
Ford CEO Jim Hackett has promised $11 billion in cuts over five years as the company resizes to better compete globally. Ford has confirmed that some employees will lose jobs. Its earnings have been shrinking, and Wall Street analysts expect more of the same during the July-through-September period.
Excluding one-time items, Ford is expected to make a still healthy 28 cents per share, down from 43 cents a year ago.
Ford says it has released parts of the plan, including restructuring in China and a host of new SUVs and trucks.