Ford is said to be about to announce a massive corporate restructuring that will lower white-collar costs by around a third and include cutting jobs and benefits, according to the Wall Street Journal.
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The moves, which the WSJ said will be announced at Ford’s board of directors meetings, will also include a new pricing strategy.
Ford’s staff cuts are expected to hit the managers and supervisors the hardest while impacting lower-paid salaried workers less, the WSJ reported.
Ford hopes that it can lower production and cut costs enough to allow it to lure customers with larger discounts, the newspaper reported.
