Less than two weeks after announcing a joint venture with Navistar to build medium-duty commercial trucks, Ford Motor Co. said Friday it will cut as many as 5,000 white-collar jobs and is working on a more extensive restructuring plan.
The cuts, about 10 percent of Ford's North American salaried workforce, will be achieved mainly through early retirement and buyout packages.
Ford has been battling shrinking market share, the fallout of the Explorer/Firestone controversy, and other problems. In May, Ford's vehicle sales dropped almost 12 percent from the year before.
Already this year Ford has dropped a shift at its Michigan Truck Plant in suburban Detroit, eliminated overtime at some other plants, imposed a hiring freeze and other cost-cutting measures.
The cuts, about 10 percent of Ford's North American salaried workforce, will be achieved mainly through early retirement and buyout packages.
Ford has been battling shrinking market share, the fallout of the Explorer/Firestone controversy, and other problems. In May, Ford's vehicle sales dropped almost 12 percent from the year before.
Already this year Ford has dropped a shift at its Michigan Truck Plant in suburban Detroit, eliminated overtime at some other plants, imposed a hiring freeze and other cost-cutting measures.
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