Ford, the No. 2 US auto maker, plans to finish a global management restructuring by August that will eliminate about 7,000 salaried positions and about 10 percent of managers, the company said in a letter to employees on Monday
WASHINGTON (Pakistan Point News / Sputnik - 20th May, 2019) Ford, the No. 2 US auto maker, plans to finish a global management restructuring by August that will eliminate about 7,000 salaried positions and about 10 percent of managers, the company said in a letter to employees on Monday."Overall, by the end of the process later in August, we will have eliminated about 7,000 salaried positions or about 10 percent of our global salaried workforce," the letter from Ford CEO Jim Hackett stated.
Hackett said the restructuring would save the company $600 million while making Ford more productive by eliminating bureaucracy and speeding up decision-making.
Most of the reductions are overseas, with roughly 2,300 job cuts in the United States, a number that includes 1,500 voluntary buyouts completed in the past year, a company spokesman said, as quoted by CNBC.
About 900 job cuts are expected this week, of which 500 are in the US, with a remaining 300 US jobs eliminated by August, the spokesman added.
