Ford Motor cutting 10pc of global salaried workforce
Ford Motor Co said on Monday it will eliminate about 10% percent of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually.
Ford Chief Executive Jim Hackett said in a Monday email to employees that the cuts include both voluntary buyouts and layoffs, and a spokesman added it freezes open positions as well. About 2,300 of the affected people are employed in the United States, the spokesman said.
“To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work and cut costs,” Hackett said in the email.
The cuts come as U.S. President Donald Trump has made boosting auto sector employment a key goal. Trump has harshly criticized automakers, especially General Motors Co, for cutting jobs, but has focused primarily on blue-collar cuts at factories rather than white-collar reductions.
The White House did not immediately comment on Monday about Ford’s salaried cuts.
Restructuring work continues in Europe, China, South America and the International Markets Group and the Dearborn, Michigan-based company expects to complete the process in those markets by the end of August, Hackett said.
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