Ford slashing 7 000 jobs as disruption sweeps auto industry

Ford slashing 7 000 jobs as disruption sweeps auto industry

Ford Motor Company on Monday informed employees that it would lay off about 7,000 salaried workers, or 10 percent of its global workforce, in the coming months in a cost-cutting measure that officials said would save about $600 million per year.

"With a solid plan in place, we promised 2019 would be a year of action and execution for Ford, and that's what we delivered in the first quarter", said Jim Hackett in April.

Ford announced Monday that they would be laying off about 500 white collar employees in the USA, mostly in Dearborn, with more cuts globally.

Throughout the continuing elimination process this summer, 300 more job cuts will take place in the USA, for a total of 800 in the redesign process. About 1,500 have already happened voluntarily, and about 500 more workers will be let go this week.

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The first wave of layoffs will begin Tuesday and include 500 salaried workers in the US this week. In March, Ford said it will trim down the number of employees in Germany by 5,000, and earlier in May it said 500 jobs in the United Kingdom will be slashed. Ford is working to cut US$25.5 billion in operating costs over the next few years, the Detroit News reported. Sales in the U.S., where these automakers get most of their revenue, have fallen slightly but are still strong. Many have been upset that it took so long for the company to make decisions. In November, the company announced it would shed up to 14,000 workers as it cut expenses to prepare for technology shifts.

The dismissals are created to shrink Ford's management structure by 20% and streamline the number of organisational layers to nine or less, from 14, Hackett said. But it will actually be transferring 2,500 people from its Dearborn headquarters, while employees of existing partner companies will add another 2,500 jobs by 2028. "This required intensive work across multiple layers of our company".

"Ford is a family company and saying goodbye to colleagues is hard and emotional", the automaker's president and CEO writes in the email.

"As we enter the final weeks of Smart Redesign in North America, I want to update you on our overall progress", Hackett said in the email. By the end of the process in August, we expect to have eliminated about 7,000 salaried positions or about 10% of our global salaried workforce.

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