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Ford Motor Co. is expected to cut its global workforce by about 10 percent, The Wall Street Journal is reporting.
Citing “people briefed on the plan,” The Journal says the idea is to improve Ford’s profits and stock price amid a $3 billion cost-cutting effort. Most of the job cuts should affect salaried employees, the Journal reports — perhaps some 20,000 people.
In March, Ford said it would invest $1.2 billion in three Michigan plants, adding more than 130 jobs. It’s not yet known how the cuts will affect that plan or other hourly positions at plants around the world.
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