Report: Ford to cut workforce by 10 percent

Posted at 10:37 PM, May 15, 2017
and last updated 2017-05-16 05:49:02-04

The Wall Street Journal is reporting that Ford Motor Company will be cutting their global workforce by 10%.

The report came out online Monday night.

The Journal says the cuts, which are expected to target salaried workers, could be announced as early as this week.

Ford issued the following statement about the report:

We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities. 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.

The report says Ford has about 200,000 workers around the world.