Ford to cut 7,000 jobs

Ford has announced it will cut up to 7,000 jobs, with about 500 expected to be in the UK. It currently employs about 12,000 people in the UK.

Ford’s chief executive Jim Hackett said, ‘The total number of positions impacted in the UK is still to be determined.’

The cuts will be made by the end of August as the US car maker strives to reduce costs. It says that by reducing its workforce by what amounts to 10% will save it £471m per year.

This announcement follows the news in March that Ford was cutting 5,000 jobs in Germany.

Jim Hackett added, ‘To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work and cut costs.’