Ford to cut 10% of salaried jobs across the pond

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Management at the US motor giant are grappling with a falling share price and hope to stem the tide by cutting costs, a source close to the company told Reuters, reports City AM.

The carmaker has around 30,000 salaried workers in the US. The cuts will not affect the firm’s hourly-paid workforce.

Ford intends to offer retirement incentives to salaried workers. The cuts, part of a previously announced plan to reduce the group’s cost base by $3bn (£2.3bn), will be finalised on 1 October.

In a statement Ford said driving profitable growth was a core strategy, adding: “Reducing costs and becoming as lean and efficient as possible also remain part of that work.”

Scrapping a large proportion of the group’s salaried workforce could see Ford once again lock horns with US President Donald Trump.

Since taking office Trump has made it a top priority to boost the US carmaking sector. He has been particularly critical of US automakers’ strategies to produce vehicles in Mexico.

In January Ford binned plans to build a $1.6bn car factory in Mexico, in favour of creating 700 jobs in Michigan.

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