Ford said Wednesday that it would cut 1,400 salaried positions in North America through voluntary buyouts, the latest move in a multiyear restructuring effort.
Why it matters: The automaker, which is in the midst of a CEO transition, has been trying to right-size its business and boost profitability by focusing on core products like the F-150 pickup and growth opportunities like electric vehicles, software and fleet management services.
What they're saying: In an email to staffers, Kumar Galhotra, Ford's president for the Americas and international markets group, said the company had "reprioritized certain products and services" and would adjust staffing in its North America and Ford Credit divisions. Those deemed to have "critical skills" would not be eligible.
- "Our hope is to reach fitness targets with the voluntary incentive program. If that doesn’t happen, involuntary separations may be required," Galhotra said.
