Ford Motor, under pressure from shareholders to cut costs in the face of lower profits and falling share price, could be getting ready to make deep cuts in its worldwide staff.
The Wall Street Journal reported late Monday evening that Ford plans to cut about about 10% of its worldwide work force, which comes to about 20,000 jobs. The paper cited people familiar with the proposal.
Reuters and the Detroit News both reported Tuesday that 10% cuts are under consideration. The reports say that most of the jobs would be salaried workers who do not have union protection, rather than the 57,000 U.S. hourly staff who work on assembly lines.
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