Ford Motor stated Monday that it’s shedding about 7,000 managers and different salaried staff, about 10% of its white-collar workforce throughout the globe, as a part of a restructuring plan designed to save lots of the No. 2 automaker $600 million yearly.
The cuts, a few of which had been beforehand introduced by the corporate, shall be accomplished by August, Ford CEO Jim Hackett stated in an e-mail to staff Monday. A lot of the reductions are abroad with roughly 2,300 of the job cuts coming from the US. An organization spokesman stated 1,500 of the two,300 U.S. job cuts had been voluntary buyouts from final yr.
This spherical of layoffs will not impression Ford’s hourly manufacturing facility staff. The corporate had roughly 199,000 staff the world over on the finish of final yr, about 3,000 lower than the earlier yr, in keeping with a securities submitting.
Hackett stated roughly 20% of upper-level supervisor jobs may even be eradicated as the corporate strikes to cut back forms.
The job cuts embrace voluntary buyouts and…