Ford plans new wave of layoffs, to shed 10% of its workforce by August [MarketWatch]
Tesla, Inc. (TSLA)
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Source: MarketWatch
Ford plans new wave of layoffs, to shed 10% of its workforce by August Ford Motor Co. plans to eliminate more salaried jobs worldwide as part of its redesign, according to an email sent to employees that was published by Automotive News. Notifications will be sent to North American workers on Tuesday, while restructuring work continues in Europe, China, South America and other international markets, Ford’s Chief Executive Jim Hackett said in the email on Monday. By the end of August, including layoffs and resignations over the past year, Ford F, -0.10% will have eliminated 7,000 salaried jobs or about 10% of its salaried workforce, an annual savings of around $600 million, Hackett said. Related: Ford stock rising the most in 10 years after ‘massive’ Q1 beat The move will reduce the company’s management structure by close to 20% as Ford had planned, said the email. “We also made significant progress in eliminating bureaucracy, speeding up decision making and driving empowerment
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