Ford to downsize global workforce

Ford Motor is planning to cut its workforce in North America and Asia by about 10 per cent – which could equate to around 20,000 jobs.

However, it does not plan to cut its hourly workforce or production.

According to the Wall Street Journal, this is part of a previously-announced plan to cut costs by $3bn.

Ford said, ‘Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation.’

Chief executive Mark Fields said, ‘We are continuing our intense focus on cost and the reason for that is not only mindful of the current environment that we’re in, but also I think preparing us even more for a downturn scenario.’