Ford plans to lay off 7,000 employees worldwide
The move will result in a 10% reduction in Ford's global workforce by August 2019, including 20% of its leadership positions. The downsizing email to Ford employees highlighted the need to cut management levels and increase direct reporting to the remaining managers.
Through this program, the company expects to save $ 600 million a year to implement Ford's shift towards more profitable SUVs, light trucks and electric vehicles by 2020.
In 2019, two other US auto companies also cut costs through downsizing. So, General Motors announced the layoff of 15,000 employees back in November 2018, and Tesla is planning a 7 percent reduction in the workforce in January.