Move is believed to be part of a $3bn cost-cutting scheme to help maximise profit and improve share price

Ford could cut 10% of its workforce across North America and Asia as part of the brand's latest cost-cutting measuresReuters reports.

A source close to the plan said that the cuts, which are part of a $3 billion (around £2.3bn) cost-cutting scheme, aims to maximise its profits and correct a fall in its stock price.

Only salaried workers in the USA and Asia would be affected. 

Ford has around 200,000 employees worldwide, half of which are in the USA. Of those, 30,000 positions are salaried which means job cuts could amount to 3000.

The car maker also has around 25,000 employees in Asia, but there are no figures on how many of these are salaried.

Ford told Reuters that it remains "focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities. Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation”.

When Autocar asked Ford UK whether British or European jobs could be affected, it replied with the same response.

After seemingly appeasing US president Donald Trump last year with the cancellation of a proposed $1.7bn Mexico-based factory and the announcement of a $700 million investment into a plant in Michigan, US, the move could anger the famously nationalistic Republican president. Prior to his inauguration, Trump crusaded against the outsourcing of America’s car industry to Mexico.

Ford also recently called into question the future of its investments in its UK plants ahead of Brexit negotiations and stated its desire for a transition agreement if trade agreements can’t be reached within two years. In 2016, Ford knocked £81m off of its £181m investment in its engine plant in Bridgend, Wales.

Read more: 

Donald Trump versus the car industry

Ford wants trade transition agreement to secure UK investments post-Brexit

Ford reduces Bridgend investment by nearly half

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Comments
8

16 May 2017
So it cuts employees in the States to save money, risking the wrath of King Donald of Trump, yet cuts over here are blamed on Brexit. How convenient.

16 May 2017
Have they got anything to cut in the UK. There are Diesel engine that will die away anyway and 1.6 petrol which is long in the tooth. Both face a bleak future and hopefully along with Brexit will spell the end of dominance that Ford has had since they first arrived in the uk.

Hopefully people of the UK will see Ford for what it is and turn their back on their Euro trash.

16 May 2017
GODFATHER wrote:

...of the UK will see Ford for what it is and turn their back on their Euro trash.

So, what Ford vehicles do you think people should buy other than "Euro trash" then? If you think Ford are going back to designing and building special models for the UK market like they did fifty years ago you're dreaming.

17 May 2017
Cé hé sin wrote:
GODFATHER wrote:

...of the UK will see Ford for what it is and turn their back on their Euro trash.

So, what Ford vehicles do you think people should buy other than "Euro trash" then? If you think Ford are going back to designing and building special models for the UK market like they did fifty years ago you're dreaming.

Not sure that's what he meant. I think it was more of a general dig at the quality of ford cars in Europe. Whether that is right or wrong is another matter.

Spanner

17 May 2017
Spanner wrote:
Cé hé sin wrote:
GODFATHER wrote:

...of the UK will see Ford for what it is and turn their back on their Euro trash.

So, what Ford vehicles do you think people should buy other than "Euro trash" then? If you think Ford are going back to designing and building special models for the UK market like they did fifty years ago you're dreaming.

Not sure that's what he meant. I think it was more of a general dig at the quality of ford cars in Europe. Whether that is right or wrong is another matter.

Correction! On rereading (with glasses on) Godfather seems to have some sort of issue with Europe, and we could imply things from your post, but I won't. All a bit strange for a motoring site. I could relate to one about criticising ford quality, after all people are entitled to their opinions, but politics?

Don't we get enough of this nonsense everywhere else, can we not just discuss cars? Yes I know manufacturing/economy/politics are all tied up, I don't live under a rock, but the rest of it? Autocar, Please no, at least until after the election - Corbyn, this, May that, mcclusky blah, Brexit yadda yadda yadda. Then bore away. Please give us an oasis of sanity.

I'd rather read Winnie the woo's rants about Vauxhall and odie the dogs carping about VW than the political stuff. At least they are amusing.

Spanner

17 May 2017
Apart from the items you have highlighted, I'd assume you are forgetting all the engineering that is done in the UL that have developed the 1.0l engine that won International engine of the year 3 years running.

Then we get onto the team who design the Transit, which is the #1 commercial vehicle in Europe.

and that doesn't include other functions

but hey, we don't do engineering in Britain; it's all Euro trash

16 May 2017
Ford propose to let go 3,000 of their 200,000 workers and this becomes 10%? Not per my maths.

16 May 2017
People voted to leave the EU. They didn't vote for some kind of compromise deal or some kind of transition deal. Ford will just have to get used to BREXIT. They will probably build a new factory in the UK when the EU collapses after we have left.

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