Ford cutting 7,000 white-collar jobs in a series of restructuring moves

The 88th Geneva International Motor Show

Ford is cutting 7,000 white-collar jobs, or about 10% of its global salaried workforce, as it nears the end of a major company restructuring by the end of August.

"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, focus on the most valuable work, and cut costs", Hackett wrote.

Some 1 500 USA employees have already accepted voluntary buyouts, bringing the total number of salaried job cuts in Ford's home market to 2 300.

The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. About 1,500 have left voluntarily or with buyouts, while another 300 have already been laid off. About 500 workers will be let go this week.

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Hundreds of affected employees in North America will be notified starting Tuesday, according to the News. CEO Jim Hackett announced the job cuts to the company in an email sent out Monday morning.

A spokesperson tells 7 Action News that about 1,500 people took buyouts previous year, which will bring the total eliminations in the United States to around 2,300.

This news also comes after Detroit-based automaker General Motors cut some 4,000 white-collar workers after announcing a series of plant closures and manufacturing layoffs. The layoffs included closure of five factories in the US and Canada and cuts of another 8,000 white-collar workers worldwide.

Months after GM shut down multiple plants in North America and continues to shrink its US workforce by 10,000 or more employees, Ford is following a similar but less extreme formula.

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"We have moved away from past practices in some regions where team members who were separated had to leave immediately with their belongings, instead giving people the choice to stay for a few days to wrap up and say goodbye". The layoffs included closure of five factories in the USA and Canada and cuts of another 8,000 white-collar workers worldwide.

"Ford is squeezing every cent they can out of the current business by cutting employees, cutting products and getting out of unprofitable businesses so they can put more money into future technology like electric vehicles, autonomous vehicles and mobility services", said Michelle Krebs, an analyst with car-shopping researcher Autotrader.

Before the redesign of its operations, Ford had up to 14 organisational layers, but that will be cut to nine by year-end, Hackett said. Morgan Stanley analyst Adam Jonas predicted 25,000 white-collar job cuts late past year, a number that Ford would not deny.

"Ford is a family company and saying goodbye to colleagues is hard and emotional", Hackett wrote.

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