Ford says 10% of job cuts will affect salaried jobs in North America and Asia
Detroit — On Wednesday, Ford said it would cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives. The number two US vehicle maker is looking to boost its sagging stock price. Ford said the cuts would amount to about 10% of a group of 15,000 salaried workers. The company said a large group of salaried workers would not be covered by the planned cuts, including those in product develop and in the Ford Credit unit. The cuts will not apply to Ford’s Europe or South America units. About two-thirds of the planned cuts are in North America and the rest in Asia. Ford does not plan to cut hourly workers or production.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.