As Ford tries to stop bleeding red ink, a top executive will stop using the corporate jet and will begin flying commercial flights (paid by Ford) for his weekend trips home in South Florida.
Mark Fields, executive vice president and head of operations in the Americas, had arranged for the corporate flights as part of his employment contract. But the perk has now raised some eyebrows in light of Ford's current financial troubles.
It is estimated that the voluntary move will save Ford just over $800,000 - a drop in the bucket for Ford, but an important symbolic gesture as Ford tries to turn around by cutting jobs and closing plants.
(Source: CNNMoney)
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