The reduction will impact 2,300 salaried workers in the U.S. — including 1,500 who left voluntarily last year — Ford tells NBCNews. The vast majority of the losses will come in Europe and other markets where Ford is struggling.
“We still have a lot of work to do in the coming months," Ford Chief Executive Officer Jim Hackett said in a Sunday night e-mail to employees that revealed the planned cutbacks.
Ford’s announcement is part of the “Smart Redesign” plan Hackett initiated after being named CEO in a management shake-up two years ago. It’s expected to generate $11.5 billion in total savings, with the reduction in force alone worth about $600 million annually. Ford clearly needs to move faster as it shifts its fundamental business strategy. Last year, the automaker announced it would drop virtually all of its sedans, coupes and hatchbacks, with the still-popular Mustang the key exception. It has also increased to $11 billion the money it plans to invest in its electrification program, with its first long-range battery-electric vehicle, a high-performance crossover, set to debut this year.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
VW truck brand to invest $344 million in Brazil after Ford exitVolkswagen AG truck brand Scania said on Tuesday it will invest 1.4 billion reai...
Weiterlesen »
Ford teams up with Agility Robotics to create a delivery botA walking robot is part of Ford's vision for how its autonomous vehicles deliver packages and goods in the future. The robot known as Digit, designed and built by Agility Robotics, walks upright on two legs, goes up and down stairs and can carry packages weighing up to 40 pounds.
Weiterlesen »
Meet 'Digit', the walking robot for Ford self-driving vansFord Motor Co said on Wednesday it was partnering with walking robots maker Agil...
Weiterlesen »
Wall Street Says 15,000 More Job Cuts Needed At FordWall Street analysts are saying that Ford did not cut enough jobs in its restructuring, and needs to axe another 15,000 white-collar jobs to achieve its targets.
Weiterlesen »
Ford Tests Delivery Robots That Could One Day Replace Human WorkersFord Motor Co. has teamed with Agility Robotics to pilot the feasibility of having robots and autonomous vehicles deliver packages to houses and businesses.
Weiterlesen »
Ford revs up to sell hybrids with appeal of speed and powerFord Motor Co is turning to the automotive marketer's time-tested themes, s...
Weiterlesen »
Fiat Chrysler Ram Pickup Is Closing In on GM and FordFiat Chrysler’s Ram pickup trucks are closing the market-share gap with rivals by offering aggressive rebates and interiors like those of a luxury SUV, analysts and buyers say.
Weiterlesen »
Ford to cut 7,000 jobs by August, including 900 this weekThese are the stocks posting the largest moves before the bell.
Weiterlesen »
Ford Restructuring Plan to Eliminate 7,000 JobsFord to eliminate 7,000 jobs, representing 10% of its global salaried workforce, as part of the auto company's multiyear restructuring plan
Weiterlesen »
Ford will lay off 7,000 white-collar workersFord is cutting 7,000 white-collar jobs, or about 10% of its salaried staff worldwide, as part of a cost-cutting effort it says will save the company about $600 million a year. vyurkevich reports on the 500 employees that will be cut in the US.
Weiterlesen »
Ford is cutting 7,000 white-collar jobsFord is cutting about 7,000 white-collar jobs, about 10% of its global workforce.
Weiterlesen »