Oct 6, 2018

Ford planning to cut jobs in work force restructure

A Ford Motor Company worker. Photo: Bill Pugliano/Getty Images

Ford Motor Co. is "reorganizing our global salaried workforce," it said in a statement per the Wall Street Journal, which will include cutting some salaried jobs.

Why it matters: Ford CEO Jim Hackett has been under pressure to improve the company as its share price and profits have been slipping, per WSJ. The statement to employees did not clarify how many cuts would be made, but that it would "vary based on team and location." Ford's global workforce increased by 18% last year from 2012, hitting 202,000 jobs.

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