(RTTNews) – Ford Motor plans to eliminate about 1,000 salaried jobs in North America as a component of an $11 billion global restructuring plan presented two years ago, Bloomberg reported that brought up other people familiar with the issue.
The restructuring plan is similar to the economic recession caused by the coronavirus pandemic and the announcement of task cuts could be made as soon as this week, according to the report.
News of task cuts comes as current CEO Jim Hackett plans to retire.New CEO Jim Farley will take office on October 1.
Job cuts in North America are expected to be smaller and in the form of voluntary acquisitions, Bloomberg reported.New task cuts are expected to add to 2,300 task cuts announced in the past in Hackett’s mandate 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.