May 16, 2017

Ford 'set to shed 10% of workforce'

Ford is planning to cut around 10% of its global workforce in an attempt to boost profits, according to reports. The cuts, first reported in the Wall Street Journal, are part of a plan to save $3bn during 2017. Ford refused to confirm or deny the story, but said in a statement that it was focused on its plans to "Drive profitable growth". Ford employs around 200,000 people, with half of them in North America. At the start of the year it cancelled plans to build a new factory in Mexico after pressure from President Trump, who had also criticised General Motors' plans to produce cars there.

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