May 20, 2019 / 1:26 PM / a month ago

Ford Motor Co cutting about 10% of global salaried workforce

DETROIT, May 20 (Reuters) - Ford Motor Co said on Monday it will eliminate about 10% percent of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually.

Ford Chief Executive Jim Hackett said in a Monday email to employees that the cuts include both voluntary buyouts and layoffs, and a spokesman added it freezes open positions as well. About 2,300 of the affected people are employed in the United States, the spokesman said.

Within the cuts, Hackett said it will eliminate close to 20% of upper-level managers in a move also meant to reduce bureaucracy and speed decision making. (Reporting by Ben Klayman Editing by Susan Thomas)

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