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DETROIT (AP) - When General Motors Corp. announced a radical plan to cut its huge unionized work force with early retirement and buyout offers last March, its stock went up 1 cent.
Ford Motor Co. unveiled a restructuring plan Friday that was even more drastic than GM's, but Wall Street snubbed the struggling automaker with criticism and an 11.8 percent decline, or $1.07, in its stock price.
Analysts, for the most part, were disappointed with the plan, which aims to cut $5 billion in costs by the end of 2008 by slashing 10,000 white-collar workers and offering buyouts to all 75,000 unionized employees.
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