Ford to cut jobs worldwide as business in Asia struggles

The layoffs are part of a larger restructuring effort that the US carmarker hopes will cut costs over the next three to five years.
By: | October 8, 2018
Topics: Asia-Pacific | Europe | News | US


American automaker Ford Motor Company has announced plans to cut the number of its salaried workers as it continues to struggle in Asia and Europe.

The cuts cover Ford’s global workforce, including those in North America, where the company is profitable.

The reductions are expected to fall under the US$11 billion restructuring the company announced last quarter.

Ford announced the start of the re-organisation internally last week but has yet to disclose the exact number of jobs that will be cut.

Ford, the No. 2 US automaker by sales, has about 70,000 workers and these employees have already been told of the plan.

The decision-making process on the jobs cut is expected to be concluded by the second quarter of 2019.

The automaker has said the restructuring is expected to take three to five years.

It is unclear if the reductions will be achieved by buyouts, redundancies, or a combination of the two.