Ford Motor Corp. will announce a new round of layoffs of salaried employees as early as next week, The Wall Street Journal reported, citing people familiar with the matter.
The job cuts will mainly hit U.S. workers and are part of a broader effort to reduce costs. The report didn’t say how many jobs will be affected, but they are expected to focus on Ford’s gas-engine vehicle unit as well as those making electric vehicles and software.
Ford...
Ford is trying to cut costs and streamline the business.
Eric Thayer/Getty Images
Ford Motor Corp. will announce a new round of layoffs of salaried employees as early as next week, The Wall Street Journal reported, citing people familiar with the matter.
The job cuts will mainly hit U.S. workers and are part of a broader effort to reduce costs. The report didn’t say how many jobs will be affected, but they are expected to focus on Ford ’s gas-engine vehicle unit as well as those making electric vehicles and software.
Ford (ticker: F) shares slipped 0.6% in premarket trading Friday to $14.11. They’re up 22% this year. The company announced plans to cut $3 billion in annual costs by the middle of the decade. Last August, it laid off about 3,000 workers, and earlier this year it said it would cut 3,800 jobs in Europe.
The company didn’t immediately respond to a request for comment.
Write to Brian Swint at brian.swint@barrons.com