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<blockquote data-quote="Weather Man" data-source="post: 16483325" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Ford to downsize 1,400 US jobs through buyout</strong></span></p><p>Sep. 2, 2020 10:31 AM ET|About: <a href="https://seekingalpha.com/symbol/F" target="_blank">Ford Motor Company (F)</a>|By: <a href="https://seekingalpha.com/user/32439325/profile" target="_blank">Niloofer Shaikh</a>, SA News Editor </p><p></p><p></p><p>Ford (<a href="https://seekingalpha.com/symbol/F" target="_blank">F</a> +0.2%) is targeting to eliminate 1,400 U.S. salaried jobs by year end as part of a multiyear $11B restructuring, <a href="https://www.reuters.com/article/us-fordmotor-layoffs/ford-to-cut-1400-u-s-salaried-jobs-through-buyouts-by-year-end-idUSKBN25T23Z" target="_blank">reported Reuters</a>.</p><p></p><p>The layoffs will be achieved through voluntary buyouts to employees who are eligible for retirement.</p><p></p><p>“We’re in a multiyear process of making Ford more fit and effective around the world,” Ford’s Americas President Kumar Galhotra said in the email. “We have reprioritized certain products and services and are adjusting our staffing to better align with our new work statement.”</p><p></p><p>As announced earlier, COO <a href="https://seekingalpha.com/news/3599852-fordplus-2-after-elevating-coo-jim-farley-to-ceo-position" target="_blank">Jim Farley will succeed Jim Hackett</a> as CEO on October 1.</p><p></p><p>Previously: <a href="https://seekingalpha.com/news/3610298-ford-to-trim-1k-north-america-salaried-jobs-bloomberg" target="_blank">Ford to trim 1K North America salaried jobs - Bloomberg</a> (Aug. 31)</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16483325, member: 137766"] [size=6][b]Ford to downsize 1,400 US jobs through buyout[/b][/size] Sep. 2, 2020 10:31 AM ET|About: [URL='https://seekingalpha.com/symbol/F']Ford Motor Company (F)[/URL]|By: [URL='https://seekingalpha.com/user/32439325/profile']Niloofer Shaikh[/URL], SA News Editor Ford ([URL='https://seekingalpha.com/symbol/F']F[/URL] +0.2%) is targeting to eliminate 1,400 U.S. salaried jobs by year end as part of a multiyear $11B restructuring, [URL='https://www.reuters.com/article/us-fordmotor-layoffs/ford-to-cut-1400-u-s-salaried-jobs-through-buyouts-by-year-end-idUSKBN25T23Z']reported Reuters[/URL]. The layoffs will be achieved through voluntary buyouts to employees who are eligible for retirement. “We’re in a multiyear process of making Ford more fit and effective around the world,” Ford’s Americas President Kumar Galhotra said in the email. “We have reprioritized certain products and services and are adjusting our staffing to better align with our new work statement.” As announced earlier, COO [URL='https://seekingalpha.com/news/3599852-fordplus-2-after-elevating-coo-jim-farley-to-ceo-position']Jim Farley will succeed Jim Hackett[/URL] as CEO on October 1. Previously: [URL='https://seekingalpha.com/news/3610298-ford-to-trim-1k-north-america-salaried-jobs-bloomberg']Ford to trim 1K North America salaried jobs - Bloomberg[/URL] (Aug. 31) [/QUOTE]
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