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Ford Plans To Cut About 1,000 Salaried Jobs In North America : Report

Ford Motor plans to cut about 1,000 salaried jobs in North America as part of an $11 billion global restructuring plan that was started two years ago, Bloomberg reported citing people familiar with the matter.

The restructuring plan is not related to the economic downturn caused by the coronavirus pandemic. The job cuts announcement could be come as early as this week, the report said.

The job cut news comes as current chief executive officer Jim Hackett is planning to retire. Incoming chief executive office Jim Farley will take over on October 1.

The job cuts in North American are expected to be smaller and come in the form of voluntary buyouts, Bloomberg reported. The new job cuts are expected to be in addition to 2,300 previously announced salaried job reductions in the U.S. during Hackett's tenure.

Last year, Ford reduced its manufacturing footprint and eliminated thousands of jobs in Europe.

Ford laid off 7,000 salaried employees worldwide last year in the first round of the job cuts, and expected to save $600 million per year. The carmaker had a worldwide workforce of 190,000 people at the end of 2019.

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