Ford to cut 1,400 salaried jobs in North America, Asia

Raj Nair of Ford Motor Company introduces the 2017 Fusion at the North American International Auto Show on January 11, 2016 in Detroit. (Photo by Scott Olson/Getty Images)

DETROIT (AP) — Ford Motor Co. plans to cut 10 percent of its salaried jobs in North America and Asia Pacific this year in an effort to boost profits.

The company says it will offer voluntary early retirement and separation packages to its workers. It expects 1,400 positions to be affected by the end of September.

Ford says its European and South American operations have already cut workers and won’t be affected.

The company says it will release more details to employees in June.

Ford’s stock price has fallen nearly 40 percent over the last three years as investors worry that U.S. sales are peaking. Ford is also spending heavily on future technology, like self-driving and fully electric cars.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s