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Ford to cut 1,400 white-collar jobs in North America, Asia


By David ShepardsonREUTERS - Ford Motor Co said on Wednesday it plans to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives as the No. 2 U.S. automaker looks to boost its sagging stock price.Ford shares fell 1.1 percent to $10.82 a 52-week intraday low, in early trading. The buyout offers were a fraction of the 20,000 job cuts that some news outlets had reported Ford could announce this week.Ford said the cuts would amount to about 10 percent of a group of 15,000 managers and other non-production workers and would reduce labor ...

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First Published: Wed, May 17 2017. 19:53 IST