(RTTNews) – Ford Motor plans to eliminate about 1,400 wage-earners in the United States by the end of the year from an $11 billion global restructuring plan filed two years ago, according to reports containing a memorandum sent to employees.
Redundancies shall be made by voluntary procurement. Repurchases will be presented to retirement-eligible workers, according to reports.
The announcement of the job cuts comes as current CEO Jim Hackett plans to retire and new CEO Jim Farley takes office on October 1.
The new task cuts will add to the 2,300 wage task cuts announced in the past during Hackett’s tenure in the United States.
Ford fired 7,000 international workers last year in the first circular of task cuts and hoped to save $600 million a year.The automaker had a total of 190,000 as of late 2019.