Ford Motor Company will cut as many as 7 000 jobs worldwide as it continues its cost-cutting drive, according to The Associated Press.
The 7 000 white-collar workers set to lose their jobs represent some ten percent of the Blue Oval brand’s salaried workforce, according to the report. Interestingly, the restructuring process – which Ford hopes will save some $600-million per year – has thus far not impacted factory workers.
The firm’s CEO, Jim Hackett, sent a memo to employees this week confirming the majority of 2 300 job cuts in the United States would be finalised as early as May 24.
“To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making and focus on the most valuable work, and cost cuts,” Hackett wrote in the memo, according to The Associated Press.
“Ford is a family company and saying goodbye to colleagues is difficult and emotional,” he added.
The report said the job cuts would be implemented in various parts of the company, including engineering, marketing, product development, logistics, information technology and finance.