Ford to axe 1,400 jobs
Ford is planning to cut 1,400 jobs from its US operation by the end of 2020 as part of an ongoing restructuring of the business.
The layoffs are the latest part of the marque’s multi-year US$11 billion (NZ$16.4b) shake-up.
Ford axed 7,000 salaried jobs worldwide in 2019, as well as targeting 12,000 additional layoffs and plant closures in Europe. It also restructured operations in China and South America, reports Reuters.
Kumar Galhotra, Americas president for Ford, told staff in an email that the company is “in a multiyear process of making Ford more fit and effective around the world”.
“We have reprioritised certain products and services and are adjusting our staffing to better align with our new work statement,” he adds.
Ford is targeting a 10 per cent operating margin in North America, up from last year’s figure of 6.7 per cent. This goal was set before the Covid-19 pandemic, which the US-based company has warned is likely to lead to a full-year loss.
