Ford Plans to Cut About 10% of Global Staff
- Automaker aims to surgically trim staff, retain tech talent
- Board pressed CEO Fields ahead of last week’s annual meeting
Ford Plans to Cut 10% of Global Workforce: WSJ
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Ford Motor Co. plans to trim about 10 percent of its global salaried workforce while retaining the tech talent it’s recruited to develop driverless and electric cars, according to a person familiar with the strategy.
Jobs are being cut as Ford’s directors pressure Chief Executive Officer Mark Fields to boost profit and a lagging stock price. The reductions are expected to target salaried employees mostly in North America and Asia, said the person, who asked not to be identified disclosing internal discussions. Some are also expected in Europe, where Ford already has retrenched.