Ford Plans To Cut Salaried Jobs In Restructuring

(RTTNews) - Ford Motor Co. (F) is planning cut to its salaried workforce as part of the automaker's restructuring plan to slash costs to improve its financial health.

"We are in the early stages of reorganizing our global salaried workforce to support the company's strategic objectives, create a more dynamic and empowering work environment, and become more fit as a business," the company said.

The company does not yet know how many jobs it plans to cut and it expects to have more details by the second quarter of 2019. Ford said it employs 70,000 salaried workers.

"Yesterday, we told our employees that we were in the early stages of an organizational redesign of the global salaried workforce," Karen Hampton, the Bloomberg reported, citing the company spokeswoman. The goal is "that gradually you're getting a wider, flatter organization that is really designed for speed. Inevitably, we expect that to result in some reductions, but at this point there's not a target."