FORD to eliminate 10% of workforce… 900 this week

DETROIT (AP) — Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its global salaried workforce.

The major revamp, which had been under way since last year, will save about $600 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager.

In the U.S. about 2,300 jobs will be cut through buyouts and layoffs, Ford said. About 1,500 have left voluntarily or with buyouts, while another 300 have already been laid off. About 500 workers will be let go starting this week, largely in and around the company’s headquarters in Dearborn, Michigan, just outside Detroit. All will get severance packages.

apnews.com/0036437d785c483fb40c8a7dbe5a22d0

  • Ford is laying off about 10% of its global salaried workforce, the company said Monday.
  • The job cuts are part of the companies restructuring effort and is expected to save the No. 2 automaker $600 million annually.
  • Most of the reductions are overseas with roughly 2,300 of the job cuts coming from the United States.

www.cnbc.com/2019/05/20/ford-to-cut-7000-jobs-by-august-including-900-this-week.html

313 views