Ford ‘set to shed 10% of workforce’

Peace and Freedom

BBC News

.Ford car and US flag

Ford is planning to cut around 10% of its global workforce in an attempt to boost profits, according to reports. Reuters photo

Chief executive officer Mark Fields also wants to arrest the slide in the US car company’s share price.

The cuts, first reported in the Wall Street Journal, are part of a plan to save $3bn (£2.3bn) during 2017.

Ford refused to confirm or deny the story, but said in a statement that it was focused on its plans to “drive profitable growth”.

It added: “Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation.”

Ford employs around 200,000 people, with half of them in North America.

Leaked document

In March, the carmaker announced that it would spend $1.2bn (£927m) to upgrade three plants…

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