American automaker Ford Motor plans to cut approximately 5% of its US staff in a major business reorganization designed to make the company more competitive and profitable.
Ford is offering compensation packages to employees close to retirement age, hoping to cut 1.4 thousand people, Dow Jones writes, citing a company spokesman. In total, Ford employs about 30,000 employees in the United States.
"This is a multi-year process of transforming Ford into a more efficient company," said Kumar Galhotra, President of the Ford American and International Markets Group, in an address to employees. "We hope to achieve our goals through a voluntary layoff program. abbreviations ".
Last year, the automaker cut about 7 thousand full-time employees, mainly in Europe, South America and other regions of the world. In the United States, the reduction then affected 800 people.
Ford, like other automakers, was forced to suspend production in the United States this spring due to restrictive measures introduced to contain the spread of the coronavirus, and was able to resume production in mid-May. In this regard, the company recorded an operating loss of $ 1.9 billion in the second quarter of this year.
Ford shares gained 1.2% in trading on Wednesday. Since the beginning of 2020, their value has dropped by almost 26%.