Ford Motor Co. said it will offer buyout and early retirement packages to 54,000 U.S. hourly workers in an effort to cut more jobs and replace workers with those making a lower wage.

The new round of buyouts was negotiated with the United Auto Workers union, CEO Alan Mulally said Thursday. The first round will be offered immediately to workers who had been employed at already closed plants in Atlanta, St. Louis, Edison, N.J., and Norfolk, Va.

Ford reported Thursday that it is narrowing its losses in the fourth quarter and for all of last year, but the outlook for sales in the U.S. remains grim.

Ford lost $2.8 billion, or $1.30 per share, in the fourth quarter, narrower than a $5.6 loss in 2006. The full-year loss of $2.7 billion, or $1.35 per share, was also significantly better than in the previous year.

Excluding special items, Ford lost 20 cents per share for the quarter and 19 cents per share for the year, in line with Wall Street’s expectations.

Analysts surveyed by Thomson Financial had predicted a loss of 19 cents per share for the quarter and 17 cents per share for the year.