Ford Revises Business Plan as Europe Slumps

Ford Motor Co. is revamping its five-year business plan to account for Europe's worsening debt crisis, Reuters reports.

CFO Bob Shanks tells the news service that the company needs to make unspecified changes in its response to weaker-than-expected conditions in Europe. Ford previously predicted it would lose $500 million-$600 million in the region this year.

The company updates its five-year plan twice each year, according to Shanks. He says senior executives will be briefed on the latest update in mid-July.