Ford
could cut up to 20% of its US white-collar workforce – more than 8,000 salaried
employees – as part of an overhaul of its North American operations, according
to a report in the Financial Times.
The cuts would come as part of the broader review of Ford’s operations being
undertaken by Nick Scheele – Ford’s Chief Operating Officer and until recently
head of North Amercican operations.
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Scheele, also a former chairman of Ford’s European operations, has previously
told employees that the company needs to get "back to basics," focusing
on core automotive operations rather than electronic commerce and other ventures
championed by Nasser.
The results of the operations review are expected to emerge at the end of this
year or the beginning of next and large-scale cuts are anticipated.
Very aggressive cost-cutting of white collar staff is seen as necessary to
shore up the bottom line following the removal of Nasser and Ford’s huge second
and third quarter losses this year.
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By GlobalData
New Ford boss Bill Ford has said that the terms of reference for the review
are wide: "Everything’s up for review. Everything we have, every asset,
every piece of geography, we’re going to take a good, hard look at it,"
Ford has said.
Chief Financial Officer Martin Inglis has said he sees Ford’s profits remaining
under pressure in the final quarter of the year.
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