Ford Motors hit by losses of more than €2bn

FORD Motor Co, with US sales shredded by the worst financial crisis since the Great Depression, has posted a third-quarter operating loss of $2.98 billion (€2.33bn).

The company said it used up $7.7bn (€6bn) in cash and would cut more salaried jobs.

The per-share operating loss of $1.31 (€1.02) was wider than the 93 cent (73c) average of 10 analyst estimates compiled by Bloomberg.