Ford sees twisting road ahead, cuts 7,000 white-collar jobs

2019 Ford F150 with logo ford logo on 2019 F150 pickup truck grille

Hackett said Monday the company was creating a flatter management structure with less bureaucracy, noting more than 80 percent of managers will have six or more direct reports, up from 35 percent before the cuts began.

"Overall, by the end of the process later in August, we will have eliminated about 7,000 salaried positions or about 10% of our global salaried workforce".

Throughout the summer, 300 more job cuts will take place in the USA, for a total of 800 in the redesign process. About 1,500 already have happened.

Factory workers have not been affected by the restructuring thus far, as the company has retooled auto plants so they can build more popular trucks and SUVs.

This comes on the heels of Ford's recent announcement that it would change its investment in its home state a bit to the tune of $900 million and 900 new jobs.

"Ford is a family company and saying goodbye to colleagues is hard and emotional", Ford CEO James Hackett said in a email Monday.

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The 7,000 jobs include salaried employees who took buyouts offered in the past year, as well as jobs that were never filled and later eliminated.

Ford Motor Co. said Monday it is planning to layoff white collar 7,000 workers, with 800 coming this summer - most in the Detroit area.

This news also comes after Detroit-based automaker General Motors cut some 4,000 white-collar workers after announcing a series of plant closures and manufacturing layoffs.

"Ford is a family company and saying goodbye to colleagues is hard and emotional".

Hackett said in the memo that Ford is departing from past practices and letting laid-off employees stay a few days to wrap up their jobs and say good-bye to colleagues. The layoffs included closure of five factories in the USA and Canada and cuts of another 8,000 white-collar workers worldwide. In addition, Ford in 2018 announced a five-year cost-cutting goal of $25.5 billion as it works to hit 8 percent profit margins globally by 2020. "We will continue to work collaboratively and respectfully without teams and other partners to ensure our designs are effective and fit and that our employees are treated fairly and with respect".

"Ford is squeezing every cent they can out of the current business by cutting employees, cutting products and getting out of unprofitable businesses so they can put more money into future technology like electric vehicles, autonomous vehicles and mobility services", said Michelle Krebs, an analyst with car-shopping researcher Autotrader.



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