Ford to cut salaried workers by 10 pc

WASHINGTON/DETROIT: Ford Motor Co plans to shrink its salaried workforce in North America and Asia by about 10 per cent as it works to boost profits and its sliding stock price, a source familiar with the plan said on Monday.
A person briefed on the plan said Ford plans to offer generous early retirement incentives to reduce its salaried headcount by October 1, but does not plan cuts to its hourly workforce or its production.
The move could put the US automaker on a collision course with President Donald Trump, who has made boosting auto employment a top priority.
Ford has about 30,000 salaried workers in the United States.
The cuts are part of a previously announced plan to slash costs by $3 billion, the person said, as US new vehicles auto sales have shown signs of decline after seven years of consecutive growth since the end of the Great Recession.
The Wall Street Journal reported on Monday evening that Ford plans to cut 10 per cent of its 200,000-person global workforce, but the person briefed on the plan disputed that figure.
The source requested anonymity in order to be able to discuss the matter freely.
Ford declined to comment on any job cuts but said it remains focused on its core strategies to “drive profitable growth”.
“Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation,” it said. — Reuters