Ford to cut North America, Asia salaried workers by 10%

Reuters also learned from a source familiar with the plans that Ford intends to offer attractive incentives for early retirement so that it can cut the number of salaried employees by October 1.

Ford Motor is making plans to cut about 10 percent of its global staff, which could mean about 20,000 jobs worldwide, according to a published report.

Ford refused to talk about any task cuts however stated it stays focused on its core methods to "drive profitable growth".

Ford hasn't confirmed yet, saying "we have not announced any new people efficiency actions, nor do we comment on speculation".

Ford's plan calls for $3 billion in cost reductions in 2017.

Ford has roughly 30,000 salaried workers in the U.S. and 200,000 salaried employees worldwide.

Investors on Tuesday shrugged off media reports that Ford Motor Co F.N will announce plans to cut thousands of white-collar workers, highlighting the challenges facing Chief Executive Mark Fields. They're also unsure about Ford's heavy spending on technology with an uncertain future, like its recent investment of $1 billion in Argo AI, an artificial intelligence startup. Ford has 200,000 employees globally, half of whom work in North America. Ford cancelled its Mexico plant in January, opting instead to add 700 workers to a suburban Detroit plant in 2018 to make electric and self-driving vehicles.

As a candidate for president a year ago he repeatedly hammered Ford for its investment in plants in Mexico.

In March, the carmaker announced that it would spend $1.2bn (£927m) to upgrade three plants in MI in the USA and create 130 new jobs.

Investors are concerned that USA sales are peaking and Ford's market share is slipping.

Blessed with the best-selling vehicle in the USA, the enormously profitable F-series pickup truck, which would be a Fortune 500 company on its own, Ford remains endowed with strong financials.

Ford said the cuts would amount to about 10 per cent of a group of 15,000 salaried workers. The plan to improve profitability by $3 billion comes as Ford's flagship F-series pickup trucks are selling well, but overall sales have slowed in the United States and China, Ford's two largest markets.

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