Ford to boost profits by cutting 1400 salaried workers in North America and Asia

A group of 1,400 Ford salaried workers not directly involved in vehicle production — including managers —  will be cut as of September 2017. Reuters reports Ford hopes to achieve this with “voluntary measures.”

 

Ford’s car lineup 2017.

 

This represents a 10 percent cut to a group of 15,000 employees in a group of employees “not tasked with vehicle production.” This is, according to Reuter’s sources, to shore up the bottom line in an effort to halt slipping stock prices. The goal is to cut costs by $3 billion.

Voluntary measures will include “generous” early retirement offers.

Did you miss this?

Other Popular Stories

  • SAFFir is an autonomous robot firefighter being tested by the Navy for dangerous situations. Unlike other firefighting robots, SAFFir is both autonomous, and stands on two legs, with two hands to grasp fire hoses.
    Robots save lives: robot fire-fighters take on explosive situations. SAFFiR shows how they can be ultimately be autonomous.
  • Supply of oil at record highs, at 100 million barrels a day for the “first time ever”; expected to grow
  • Canadian Solar to supply solar mega-projects in Ontario and Turkey
  • SNC-Lavalin to build $4.2 billion Champlain Bridge in Montreal
  • Slower growth, need for new markets challenge Canada's oil producers
  • Singapore scientists invent bendable concrete for low-maintenance roads
  • Ontario space firm wins $65 million satellite contract
  • NASA Invests in Concept Development for Missions
  • Researchers studied successful manufacturers for lessons for the future
  • Calgary company a leader in waterless fracking
  • Oil drags capital spending down, though some bright spots remain: Statistics Canada
  • Exports, innovation key to small business success: CIBC
  • Audit pans government's climate change progress
  • GTA food and beverage manufacturers launch Cluster to spur growth
  • Eleventh hour intervention by Marchionne secured Fiat Chrysler deal
  • Bombardier Challenger 350 set to fly with NetJets
  • Self-Driving Cars: Virtual Reality's role in "boredom on the road" for passengers of autonomous vehicles
  • SNC-Lavalin wins large Paris metro contract
  • Elon Musk's stainless steel "Starship" from SpaceX — orbit test in six months, then on to Mars?
  • If Keystone XL dies, will Energy East replace it?
Scroll to Top