Ford cuts 7K white-collar jobs
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 percent 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. 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.