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Ford (F) is about to reveal plans to close five factories that employ around 7,500 workers, according to a published report Friday.
The Wall Street Journal said Ford would probably shut down assembly plants in St. Louis, Atlanta and St. Paul, Minn., along with an engine-parts facility in Ontario and a truck-assembly plant in Mexico. The report cited two people familiar with Ford's product plans. The report said the plan would probably be detailed in January. Ford, like its bigger rival GM (GM), has been trying to find a way to cope with high fuel costs, an expensive labor force and aggressive competition from foreign automakers. GM recently announced an expansion of a restructuring plan that will lead to the company cutting about 30,000 jobs. On Thursday, Ford, based in Dearborn, Mich., said its U.S. sales fell 15% in November compared with the same month last year. Car sales were down 7%, and truck sales slid 18%. Shares of Ford were up 4 cents to $8.14.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
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151.62
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