Tuesday, 16 May 2017

Ford Slashes 10% of Its Global Workforce

Ford Motor plans to slash its global workforce by about 10 percent as part of its core strategies to “drive profitable growth”.

A source familiar with the plan told Reuters on Monday that Ford plans to offer generous early retirement incentives to reduce its salaried headcount in North America and Asia by October 1, but does not plan cuts to its hourly workforce or its production.

The decison is reportedly part of a previously-announced plan to cut costs by $3 billion, as U.S. new vehicles auto sales have shown signs of decline after seven years of consecutive growth since the end of the Great Recession.

According to Wall Street Journal report on Monday, Ford plans to cut 10% of its 200,000-person global workforce, but the person briefed on the plan disputed that figure.

It is currently unclear whether there are additional cuts planned by the automobile company.

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